Ignore Misleading Reports On Fuel Price Increases COPEC-GH

The Chamber of Petroleum Consumers(COPEC-GH) has condemned media reports of a purported fuel price increases although figures at the pumps points to rather stable prices across most pumps.

A statement issued by COPEC-GH and signed by the Executive Secretary, Duncan Amoah has said:”the Fuel prices cannot be said to have increased by 4% when over 98% of the various pumps have remained very stable and are expected to be so until the end of the February window.”

According to the statement, TOTAL Ghana Ltd was the only oil marketing company (OMC) that had adjusted pump prices while the overwhelming majority of the 87 OMCS have maintained prices at old levels of the second January pricing window.

Mr. Duncan Amoah told Kasapa 102.5 FM that “we seemed to have opened the page for them(OMCs) to write new figures for all of us,” a situation he said will in the long run affect consumers at the second pricing window.

Nonetheless, the statement noted that “Indications are strong from the country’s biggest oil marketing company-Goil is likely to keep pump prices old levels, a move likely to keep the majority others at old pump prices until the end of the February window”

The statement further adds:” We further reiterate our earlier position also there is no fuel shortage at the moment, neither will there be one in the foreseeable future as the country’s fuel stock has seen significant increases at the various depots”