We will reduce fuel prices by the close of today -OMCs

Fuel prices are expected to go down marginally by the close of today (Monday), the Chairman of the Association of Oil Marketing Companies, Kwaku Agyemang Duah has said.

The assurance by Mr. Kwaku Agyemang Duah follows a directive from the National Petroleum Authority (NPA) asking OMCs and LPG Marketing companies to use revised prices in the price Stabilization and Recovery Levy Act.

Per the directive, the Price Stabilization and Recovery Levy for petrol will remain at 12 pesewas per litre, while diesel and LPG are revised to 3 pesewas per litre from 10 pesewas per litre.

Speaking on Oman FM, the Mr. Agyemang Duah who lauded the decision of the government said “the directive came in very late. That is during the weekend so there is going to be a meeting today to discuss the way forward and come up with a new price for fuel.”

“We anticipate that by the close of today we will be able to reduce fuel prices marginally,” he said.

Story By: Michael Creg Afful

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