COPEC dissatisfied with level of reduction in fuel price

Head of Research at the Chamber of Petroleum Consumers Ghana (COPEC-GH), Benjamin Nsiah says the union is dissatisfied with the reduction in fuel prices.

Ghanaians were hit with a 12.4% increase in the cost of fuel at the pumps at the fuel retail outlets which was effective 1st May 2021.

Per the initial increment, Ghanaians would have to cough up 47p/litre instead of the 30p/litre as approved by Parliament from the budget.

Government, however, through the Ministry of Energy has reduced the 17 pesewas per litre increase in fuel margins previously announced by the NPA by 8 pesewas.

The said reduction is said to take effect, Wednesday, 5th May 2021.

Benjamin Nsiah who spoke in an interview with Kaakyire Ofori Ayim on Atinka FM’s AM Drive, said although COPEC was not happy with the reduction and thought the National Petroleum Authority (NPA) could have reduced the fuel price further, they had to come to a consensus and get a win-win out of the situation.

“As a matter of fact, we must state that COPEC is not happy with the reduction in the fuel price. the National Petroleum Authority (NPA) could have reduced the fuel price further and we are still pushing for it”, Head of Research at the Chamber of Petroleum Consumers Ghana (COPEC-GH), Benjamin Nsiah told Kaakyire Ofori Ayim.