The 17 pesewas per litre increase in fuel margins as announced weeks ago by the National Petroleum Authority (NPA) has been reduced.

Effective Wednesday, May 5, 2021 prices of petroleum products at various pumps will witness a decrease of 9 pesewas per litre.

A communique sighted by GhanaWeb said, this decision was taken after a crunch meeting was held at the Ministry of Energy with some stakeholders in the fuel ecosystem.

Other key stakeholders present for the meeting included representatives from the Chamber of Petroleum Consumers (COPEC), Bulk Oil Storage and Transportation Co Ltd (BOST) and the National Petroleum Authority (NPA)

"At a meeting held at the Ministry of Energy earlier today between the Hon. Minister for Energy and the National Petroleum Authority (NPA), the Association of Oil Marketing Companies (AOMCS), Bulk Oil Storage and Transportation Co Ltd (BOST), the Chamber of Petroleum Consumers (COPEC), the Institute for Energy Policies and Research (INSTEPR), it has been agreed as follows.

“The 17 pesewas per litre increase in fuel margins previously announced by the NPA has been reduced to 9 pesewas per litre effective tomorrow, Wednesday 5th May 2021," the release read.

Read the communique below: