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Scrap ‘killer’ fuel tariff hike or we sue – COPEC

Source The Ghana Report/ Dave Alamisi

The Chamber of Petroleum Consumers-Ghana (COPEC-Ghana) has threatened legal action against the National Petroleum Authority (NPA) over increased levies that are expected to cause fuel price hikes in the coming days.

While the Unified Petroleum Price Fund (UPPF) has been increased by GHp1.00 per litre, the Bulk Oil Storage and Transportation Company (BOST) margins have been increased by GHp3.00 per litre in the Price Build-Up (PBU).

The directive was issued Monday and all Oil Marketing Companies (OMCs) have been instructed to recalibrate their prices to reflect the changes.

This was contained in a statement signed by NPA Chief Executive, Alhassan S. Tampuli, even though the release did not contain reasons for the hike.

COPEC-Ghana Executive Secretary, Duncan Amoah, who criticised the NPA for its insensitivity considering the impact of the cedi depreciation on crude prices further questioned the legality of the upward review.

He said they will be left with no choice but to see redress in court if NPA maintains the price build-up.

“NPA has issued a memo today that fuel prices should be increased because the margin we pay to BOST has been increased. What laws permit the NPA to increase that BOST margin? Clearly, the NPA is engaged in illegality.

“ The NPA should withdraw this or we’ll sue them”, he cautioned in the interview on Accra FM’s Ghana Yensom show on Monday.

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