Reassess price margins of OMCs – CEMSE urges NPA

The Centre for Environmental Management and Sustainable Energy has urged the National Petroleum Authority (NPA) to reassess how Oil Marketing Companies calculate their price margins. This request comes in response to growing concerns over the inconsistent fuel prices at various stations across the country.

For the third consecutive time, Shell has increased its petrol price, raising it from GH?15.59 per litre in late January to GH?16.23. Diesel prices have also risen, now standing at GH?16.20 per litre, up from GH?15.79.

Meanwhile, Star Oil has maintained its petrol price at GH?14.99 per litre but has raised the price of diesel to GH?15.37 per litre, up from GH?14.99.

In an interview with Citi Business News, the Executive Director for the Centre, Benjamin Nsiah noted that it is time for the regulator to address these pricing inconsistencies, calling for a comprehensive review.

“The regulator must critically reexamine the sector to understand why some are selling at high prices while others offer much cheaper prices with a low margin of just GH¢1.

“This can only be achieved by scrutinizing the pricing formula carefully to determine the factors influencing the pricing of OMCs, particularly their margin, as this is where deregulation has occurred,” Nsiah noted.