The National Petroleum Authority has assured Ghanaians that the prices of fuel are expected to reduce from Monday, August 1.
Speaking in an interview on Citi FM, the National Petroleum Authority (NPA) boss, Abass Ibrahim Tasunti said that this change is a result of the reduction in world prices of petrol and diesel.
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“The fuel price changes are influenced by changes of the price on the world market and the exchange rate in particular. We have seen reductions at the pumps in the past one month purely because the world market prices have dropped. In the next window in which we are going into, we have observed that the price of petrol and diesel have gone down again, and therefore we expect some price reductions at the pumps in the next window which starts from the 1st of August.”
“Regarding the level of reduction, because of the deregulated pricing, the percentage changes will vary from company to company.”
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“So what we do as regulator is that we will allow the marketer to make their price changes and as we will monitor to see whether they follow the pricing formula in changing their prices“, he said.
According to reports, prices will fall between 50 to 70 pesewas per liter reduction of petrol and diesel will be witnessed at the pump.
source: www.ghgossip.com
