”Measures taken are expected to cushion the currency. This will help further stabilise the prices at the pump” Minister for Finance assures.
The government has reduced the increasing price figure-up of petroleum products by an aggregate of 15 pesewas per litre effective 1 April 2022, Ken Ofori-Atta, the Minister for Finance has said.
This is anticipated to be enforced for the coming three months.
Addressing the country on measures being taken to check the economic demanding situations, Ofori-Atta said, “ To alleviate the impact of the rising price of petroleum products at the pump, for the coming three months, the government has decided to reduce margins inside the petroleum fee construct-up by a total of 15 pesewas according to litre with impact from 1 April.”
Ofori-Atta stated these reductions in margins are expected to lessen the fees of petrol by using 1.6% and diesel by means of 1.4%.
“We expect that the measures taken to bolster the currency will help similarly stabilise the prices on the pump,” he added.
He stated the National Petroleum Authority (NPA) is in discussion with the Oil Marketing Companies (OMCs) to reduce their margins in the spirit of burden-sharing.
“ The government will do all it can to ensure the harmonious force of energy and manage the rate of the ex-pump price increase by making sure that BoG has access to acceptable foreign exchange,” Ofori-Atta said.
Alternative measures
- BOST margin reduced by 2 pesewas per litre
- Unified Petroleum Pricing Fund (UPPF) margin reduced by 9 pesewas per litre
- Fuel Marking Margin (FMM) reduced by 1 pesewa per litre
- Primary Distribution Margin (PDM) reduced by 3 pesewas per litre
MORE STORIES
- NABCO Outlines Exit Plan for the Remaining 67,657 trainees to MPs
- Gunshots in Bawku again as police worried residents reluctant to volunteer info
- Deadly Weekend: Groom crashes to death on way to wedding
- Jealous groom beats male wedding guest for tightly hugging his bride (Video)
- Drink water if you can’t afford the new prices of alcohol – GIHOC Boss tells Ghanaians
- Gov’t extends deadline for SIM card re-registration
- Ho: 12 Commercial sex workers arrested
- Video evidence of street robbery at Adenta SSNIT Flat area
- Regularly monitor your bank account balances; report any suspicious transactions – BoG urges