The National Petroleum Authority (NPA) says prices of petroleum products are likely to be reduced in the next pricing window as a result of the appreciation for the Ghana cedi against the US dollar and decrease in the price of petroleum products on the world market.
The Authority says in line with the deregulation policy these positive developments would be passed on to the public through pump prices.
Chief Executive Officer (CEO) of NPA, Alhassan Tampuli announced this yesterday at an Industry Stakeholder Engagement Seminar.
According to him, the Ghana cedi has made some gains against the US Dollar as at yesterday.
Fall prices on world market
In addition, he said the price of diesel and petrol on the world market have decreased by nearly 2 per cent while the price of Liquefied Petroleum Gas (LPG) has also gone down by almost 8 per cent.
93% petroleum product exports to neighbouring countries
He also announced that following the stringent measures instituted by the Authority to curb illegal activities in the downstream petroleum sector, petroleum product exports to neighbouring countries have drastically reduced from 30 million litres in August 2017 to two million litres in August 2018 representing about 93 per cent decline.
This, Tampuli said has resulted in a significant reduction in volumes of exported products that would have been diverted invariable at the expense of the state.
43 Bulk Road Vehicles arrested for illegal activities
“We have, in close collaboration with the security agencies so far arrested and detained 43 Bulk Road Vehicles (BRVs) and one canoe for engaging in all manner of illegal activities. Products on board the arrested vehicles were also confiscated from the owners,” he stated
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