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Petroleum pricing above NPP, NDC matters - NPA

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Thu, 12 Aug 2021 Source: www.ghanaweb.com

• Several factors contribute to the pricing of petroleum products on the local market

• The media has been urged to educate the public on petroleum pricing

• Dr Mustapha Hamid said the aforementioned, when done, will enhance peace and stability in the country

The Chief Executive Officer of the National Petroleum Commission (NPA), Dr Mustapha Hamid, has noted that the pricing of petroleum products is above politics.

He noted that the forces of demand and supply, international geopolitics determines the increment of petroleum prices in the country.

Dr Mustapha Hamid, therefore, entreated the media to desist from blaming politicians anytime there is a fall and/or rise in the pricing of petroleum products.

This, he said, will make Ghanaians appreciate the pricing of petroleum products on the market.

Speaking at a one-day workshop held for media practitioners in Accra on Wednesday, August 11, 2021, the NPA boss said, “The issue of petroleum pricing should not be an NDC and an NPP matter because petroleum pricing basically drives the economy, the market and productivity in workplaces, everyone thrives on petroleum.

"So an educated journalism fraternity on petroleum pricing mechanism in a deregulated environment is very critical for the survival of our nation, the peace of our nation and that will help you become truly independent arbiters,” he noted

The NPA derives its mandate to oversee the pricing of petroleum products from Act 691 (NPA Act 2005) and LI 2222, 2015.



Source: www.ghanaweb.com
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