Our attention has been drawn to some publications purporting that the two-month removal of the price stabilisation and recovery levy would lead to a reduction in fuel prices in the next pricing window. The Association of Oil Marketing Companies (AOMC) would like to react as follows:
The current pricing window ends today Friday, 15th October 2021.
The second window of the month starts on Saturday, 16th October 2021.
Per the AOMC Market Research Index, below are the expected range of ex-pump prices in the second window starting from Saturday 16th October 2021.
1. Range of Ex-Pump prices per litre (Including Current Price Stabilisation and Recovery Levy, PSRL)
Petrol = 6.88 Ghs – 7.11 Ghs, Diesel = 6.82 Ghs – 7. 05 Ghs
2. Range of Ex-Pump prices per litre (Excluding the Price Stabilisation and Recovery Levy, PSRL)
Petrol = 6.72 Ghs – 6.95 Ghs,
Diesel = 6.68 Ghs – 6.91 Ghs
3. The public should be reminded that prices of petroleum products are computed by each OMC independently and submitted to the Regulator, in compliance with the Price Build-Up formula.
4. Furthermore, we would like to assure our cherished consumers that we will not do anything to compromise the quality and quantity of products dispensed at the pump or short-change them, to supposedly make abnormal profits which invariably do not exist, but we have to fully recover our cost.
5. The purported removal of the Price Stabilization and Recovery Levy (PSRL) would take effect only after a formal and written communication from the National Petroleum Authority (NPA) to the Petroleum Downstream
Industry, duly signed by the Chief Executive.
We will continue to serve you better.
Thank you.
Signed
Kwaku Agyemang-Duah
CEO/Industry Coordinator
15th October 2021