NPA to revise diesel price floor following government’s GH¢2 per litre subsidy
The National Petroleum Authority (NPA) has announced that it will revise the diesel price floor after government introduced a GH¢2 per litre subsidy aimed at cushioning consumers against rising fuel costs.
The National Petroleum Authority (NPA) has announced plans to revise the diesel price floor following the government's introduction of a GH¢2 per litre subsidy. This move aims to support consumers against escalating fuel costs, particularly affecting commercial transport operators and businesses reliant on diesel fuel. President John Dramani Mahama directed the NPA to absorb the GH¢2 subsidy per litre to alleviate the burden on Ghanaians.
The new price floor, set to take effect on Tuesday, will serve as the minimum price for diesel sales by Oil Marketing Companies (OMCs) during the current pricing window. NPA Director of Economic Regulation and Planning, Abass Tasunti, informed Joy FM’s Midday News that the government's intervention has been incorporated into the petroleum price build-up framework.
This means the current diesel price floor will be reduced by GH¢2 per litre for the ongoing pricing window. Tasunti further explained that the NPA is in the process of drafting a communiqué for the oil marketing companies to inform them about the directive. The new price floor will be issued on Monday, August 3, with effect from Tuesday.
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