The National Petroleum Authority (NPA), has released a memo with details of price increment in petroleum products effective Monday, 16th December 2019.
In a memo signed by the Chief Executive Officer(CEO) of the NPA, Alhassan S. Tampuli, dated 13th December 2019, was a drafted table showing the various products with their old and new prices, both in the Unified Petroleum Price Fund (UPPF) margin and the BOST margin.
The UPPF margins saw an increase of GHp1 while the BOST margins were increased by GHp3.
According to the NPA, companies that have already submitted Indicated Prices using the old margins are to revise them for re-submission to the National Petroleum Authority (NPA) accordingly.
However, the Chamber of Petroleum Consumers(COPEC) threatened legal action against the NPA over the directive to oil marketers to increase fuel prices at the pumps.
This directive according to COPEC is illegal and unconstitutional and must be reversed immediately otherwise face court.
See memo below: