NPA announces – Fuel prices may go down next year

By on

asaga_forum-513x330The National Petroleum Authority (NPA) has announced that Ghanaians may see a reduction in fuel prices by next year if crude oil price on the world market keeps falling.

The NPA has also revealed that all debt owed the BDCs will be paid by the end of December.

According to the Authority, the payment will pave way for a reduction in fuel prices.

Pressure has been mounting on the NPA and government to reduce prices of petroleum products following a drastic fall of crude oil prices on the world market but the NPA has on several occasions mounted a spirited defense against such calls, saying it owes the BDCs hence it is saving money to defray the debt.However speaking to Citi News, Chief Executive Officer(CEO) of the NPA, Moses Asaga said all the debt owed the BDCs will be cleared by end of the year.

“What is now left to recover is about 157 million Ghana cedis by the end of December so once we do that I think that January and February, if prices continue to see a downward trend, we should be able to clear those outstanding arrears,” he explained.

“The facts are there that government is owing the BDCs 412 million, which is an outstanding debt to the consolidated fund and therefore it has nothing to do with the timing of an election year,” Asaga added.

Oil Marketing Companies (OMCs) across the country on Wednesday suspended their intended strike to protest the NPA’s decision to maintain fuel prices.

The suspension of the strike follows a timely intervention by President John Dramani Mahama.

The OMCs had earlier planned to shut down their pumps in solidarity with their colleagues who had been restricted from loading by the NPA.

They stated that their intended strike was to draw attention to what they consider to be the unfair treatment meted out to them by the NPA.

The shut-down would have gravely affected motorists and commuters, however the feuding group suspended their action after the President put in place measures to address their concerns.

 

By: Marian Efe Ansah

ABOUT: Nana Kwesi Coomson

[email protected]

A Freelance Journalist, Entrepreneur and Philanthropist. Editor-in-Chief of www.233times.com. A contributory writer for Ghanaian Chronicle Newspaper. An alumnus of Adisadel College where he read General Arts. He holds first degree in Bachelor of Arts from the University of Ghana; Political Science (major) and History (minor). He has also pursued MSc Corporate Social Responsibility (CSR) and Energy with Public Relations (PR) at the Robert Gordon University in the United Kingdom. His mentors are Rupert Murdoch, Warren Buffet, Sam Jonah, Kwaku Sakyi Addo and Piers Morgan

view all posts by: Nana Kwesi Coomson  

ABOUT 233TIMES

233times.com is a Ghanaian media house which serves as a major source of exclusive interviews ,music and video downloads, news and more.

233times.com reports on major events,news covering entertainment, politics, sports, etc from within Ghana, Africa and beyond.

We have a platform for the amateur artistes to portray their staggering talents ...more...

WE ON SOCIAL MEDIA. FOLLOW US

facebook twitter youtube google plus linkedIn

To advertise with us or make enquiries, please visit 233times.com/advertise or call +233249455142 (Selorm), +233248185848 (Nana Kwesi)