U. S. retail sales rose more than expected in October as households bought motor vehicles and a range of other goods, pointing to sustained economic strength that could allow the Federal Reserve to raise interest rates next month. The Commerce Department said on Tuesday retail sales increased 0.8 percent last month, also boosted by demand … Read more
The National Democratic Congress (NDC) Flagbearer, President John Mahama, has no plans to reduce the price of petroleum products ahead of the 2016 elections. This is according to the Campaign Coordinator of the NDC’s 2016 Campaign, Kofi Adams, who denied assertions by the New Patriotic Party (NPP), that President Mahama is set to reduce prices … Read more
The National Democratic Congress (NDC) Flagbearer, President John Mahama, has no plans to reduce the price of petroleum products ahead of the 2016 elections. This is according to the Campaign Coordinator of the NDC’s 2016 Campaign, Kofi Adams, who denied assertions by the New Patriotic Party (NPP), that President Mahama is set to reduce prices … Read more
The Chamber of Petroleum Consumers Ghana (COPEC-GH) has asked Oil Marketing Companies (OMCs) operating in the country to review their pump prices downwards in the interest of the public. According to COPEC-GH, a net reduction of between 3 and 8 percent by the OMCs would be deemed fair and reasonable considering the fact that “world … Read more
The Institute Energy Studies (IES) has published its bi-weekly forecast of the petroleum market, projecting that petrol and diesel prices will remain ‘fairly stable’ in the first November pricing window. “With the marginal reduction in national fuel stock, the marginal appreciation of the Ghana Cedi against the U. S. Dollar, the up to 3% increase … Read more
The Institute for Energy Security, an energy policy think tank, has described the recent increment in price of petroleum products by some Oil Marketing Companies as “unjustified” and lacking merit. The institute in its projections of how much petroleum products must cost at the pumps said there is no justification in the price increases as … Read more
The Committed Drivers Association have threatened to increase fares by 20 percent from Monday October, 25, 2016 if government fails to reduce the prices of fuel. The National Petroleum Authority (NPA) some few days ago announced that it has increased the price of fuel by 4 percent and not the 11 percent announced by some … Read more
The National Petroleum Authority (NPA) and the Chamber of Petroleum Consumers Ghana have clashed over reported fuel prices increases. In a statement it issued Monday, October 17, the Chamber of Petroleum Consumers Ghana said that prices had gone up between 8-11 percent effective October 16, 2016. However, the NPA in a sharp rebuttal described the … Read more
The National Petroleum Authority (NPA) has described an announcement by the Chamber of Petroleum Consumers (COPEC) of Ghana that fuel prices have gone up by 11 percent as false and misleading. In a statement it issued Monday, October 17, the COPEC said that price of diesel effective October 16, 2016 was reviewed upward between 8 … Read more
The denial by the National Petroleum Authority (NPA) concerning recent reports of fuel price increases smacks of “mischief”, the Executive Secretary of the Chamber of Petroleum Consumers Ghana (COPECGH), Duncan Amoah, has stated. COPECGH had on Monday October 17 announced that fuel prices had gone up between three and 11 per cent in line with … Read more
Ghana Oil Company Limited (GOIL) has assured motorists it will maintain its fuel prices at the pump despite industry trends suggesting an upward adjustment. The Chamber of Petroleum Consumers Ghana on Monday asked consumers of petroleum products expect between 8 and 11 per cent increment effective October 16, attributing that to current increases in the … Read more
The National Petroleum Authority (NPA) has urged the general public to ignore media reports indicating there has been an upward review of fuel prices. The NPA, in a statement released on Tuesday October 18, said it had observed with concern media headlines suggesting that the price of fuel had increased by 11% at the pump, … Read more
The National Petroleum Authority (NPA) has denied media reports that fuel prices have increased by 11% in the country describing the publications as “false”. In a statement the NPA said it is “encouraging consumers and the media to check on the price board of retail stations to determine the true prices of fuel on the … Read more
The National Youth Organizer of the largest opposition New Patriotic Party (NPP) Sammi Awuku has said President John Mahama’s conduct less than two months to the crucial December 7 elections, suggests he has some assured votes already to make him win the poll. According to him, a lot of Ghanaians are expressing sentiments over the … Read more
Fuel prices across various outlets in the country have increased between three and 11 per cent, the Chamber of Petroleum Consumers Ghana (COPEC-GH) has indicated. This follows a review of fuel prices in the country in the second National Petroleum Authority (NPA) interim regulations for the second window in the month of October. Diesel prices … Read more
Government has bagged over GHC3.4billion from taxes imposed on petroleum products for the first six months in 2016. Data released by the National Petroleum Authority (NPA) for products sold for the first six months of 2016 puts the total taxes at GHC3.4billion (GHC3,454,172,478.83). This amount was raised from the total quantity of petrol, diesel and … Read more
The Chamber of Petroleum Consumers Ghana, has forecast a likely 7-13 percent fuel price adjustment beginning Sunday October 16. According to the Chamber, “the decision for cuts in OPEC production levels seem to have taken a toll on world price indexes as prices on the world market have surged by between 7-13% as of today. … Read more
The tumbling value of the pound against the US dollar, euro and other currencies since Britain voted for Brexit could have a significant impact on British consumers and businesses. Earlier, it collapsed in value to new 31-year lows, sparking market chaos and a Bank of England probe. Here is a look at what the falling … Read more
Within the first week of the second pricing-window for September 2016, petrol and diesel prices fell by an average of 0.78% and 0.84%, respectively. Three Oil Marketing Companies (OMCs) namely: Puma Energy, Glory Oil and Frimps Oil effected these changes, the Institute for Energy Security (IES) has said. The Institute said on Monday, 3 October, … Read more
The Institute for Energy Security (IES) projects petrol prices to rise marginally whilst diesel price on the local market remain stable for the next Pricing window which takes effect from Saturday 1st October 2016. IES bases its projection on Platts prices which saw an upward adjustment of petrol while diesel remain fairly stable, and the … Read more