COMAC says Uniform Fuel Pricing Fund should not be confused with fuel subsidy
The Chamber of Oil Marketing Companies (COMAC) says the Uniform Pricing Policy Fund should not be confused with the fuel subsidy being provided by government.
The Chamber of Oil Marketing Companies (COMAC) has clarified that the Uniform Pricing Policy Fund is distinct from government fuel subsidies. COMAC CEO, Dr. Riverson Oppong, explained that the fund aims to maintain uniform fuel prices nationwide. He emphasized that regardless of the location, whether Tamale or Kumasi, the fuel price remains consistent.
This policy prevents consumers from paying significantly higher prices in areas distant from fuel ports. Dr. Oppong emphasized that the fund is not a direct charge on government revenue and is not attributed to government intervention. He suggested that taxes and levies might be a more sustainable way to support consumers from rising fuel prices.
Dr. Oppong welcomed government intervention but called for discussions on utilizing Ghana's upstream petroleum sector revenues to support the downstream sector. He suggested that increased revenue from the upstream sector could help cushion businesses and consumers facing pressure in the downstream sector.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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