The Centre for Environmental Management and Sustainable Energy has urged the National Petroleum Authority (NPA) to reassess how Oil Marketing Companies (OMCs) determine their price margins. This comes amid growing concerns over the inconsistent fuel prices observed at various stations nationwide.
For the third consecutive time, Shell has raised its petrol price, increasing it from GH₵15.59 per litre in late January to GH₵16.23. Diesel prices have also gone up, 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 adjusted its diesel price, raising it from GH₵14.99 to GH₵15.37 per litre.
Speaking to Citi Business News, the Executive Director of the Centre, Benjamin Nsiah, emphasized the need for the regulator to address these pricing discrepancies through a comprehensive review.
“The regulator must critically assess the sector to understand why some companies sell at significantly higher prices while others offer much lower prices, with a margin difference of just GH¢1,” Nsiah stated.
He further stressed that a thorough examination of the pricing formula is necessary to determine the key factors influencing OMC pricing, particularly their margins, as this is where deregulation plays a role.
