The price of fuel at the pumps has been reduced by eight pesewas per litre effective Wednesday, May 5, 2021.

That implied that the recent 17 pesewas per litre increment announced by the National Petroleum Authority (NPA) had been reduced to 9 pesewas per litre.

The reduction will take effect from Wednesday, May 5, 2021.

This was contained in a communique issued by petroleum stakeholders on Tuesday, May 4, after a crunch meeting held at the Ministry of Energy earlier today between the Minister of Energy, Dr Matthew Opoku Prempeh, and the National Petroleum Authority (NPA), the Association of Oil Marketing Companies (AOMCs), the Bulk Oil Storage and Transportation Co Ltd (BOST, the Chamber of Petroleum Consumers (COPEC), the Institute for Energy Policies and Research (INSTEPR).

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

The communiqué was signed by the Minister of Energy, NPA, BOST, AOMCs. COPEC and INSTEPR.