Ghana’s petroleum downstream regulator, the National Petroleum Authority (NPA) has directed Oil Marketing Companies to increase the Bulk Oil Storage and Transportation (BOST) Company Margin on petroleum products from 3 pesewas to 6 pesewas
According to a Memo signed by the Chief Executive Officer of the NPA, Hassan Tampuli, the directive is in line with a decision taken by Cabinet and Communicated to the National Petroleum Authority.
“We write to inform you of a review of the BOST Margin in the Price Build Up (PBU) of Petroleum products effective June 1, 2020. This is in line with a decision taken by Cabinet and communicated to the National Petroleum Authority (NPA) by the Ministry of Energy,” the Memo said.
It said all the various petroleum products from Petrol to Kore Mines are expected to apply the new levy of 6 pesewas.
It would be recalled that the National Petroleum Authority in December 2019, directed Oil Marketing Companies to increase the BOST Margin from 3 pesewas to 6 pesewas.
The increment was however resisted by some civil society groups led by Chamber of Petroleum Consumers.
This forced the government to reverse the decision.
However, following a recent tour of BOST Depots by officials of some civil society groups including COPEC, IES, ACEP and IMANI they all agreed to the need to increase the Margin to enable the company rehabilitate its critical infrastructure which had been in deplorable state for years.
Source:www.energynewsafrica.com