NPA announces petroleum price floors for September 16 – 30
The National Petroleum Authority (NPA) has announced the ex-refinery and ex-pump price floors for the period of September 16 to 30, 2024.
The price floors, which are the minimum prices at which petroleum products can be sold, are as follows:
– Petrol: GHS 9.04 per liter (ex-refinery) and GHS 12.31 per liter (ex-pump)
– Diesel: GHS 9.74 per liter (ex-refinery) and GHS 12.99 per liter (ex-pump)
– LPG: GHS 10.97 per kilogram (ex-refinery) and GHS 13.13 per kilogram (ex-pump)
– MGO: GHS 9.74 per liter (ex-refinery) and GHS 10.68 per liter (ex-pump)
– Local Kerosene: GHS 9.92 per liter (ex-refinery) and GHS 11.72 per liter (ex-pump)
The NPA has entreated Bulk Import, Distribution and Export Companies (BIDECs), Oil Marketing Companies (OMCs), and LPG Marketing Companies (LPGMCs) to comply with the announced price floors.
The NPA has also announced that the ex-refinery price floors exclude the premiums charged by International Oil Trading Companies (IOTCs) and the operating margins of BIDECs.
Similarly, the ex-pump price floors exclude the Marketers’ and Dealers’ Margins of OMCs/LPGMCs.
These margins will be independently determined by the companies, as pertains under the Price Deregulation Policy.
Overall, the announcement of the price floors for September 16 to 30, 2024, is a positive development for consumers and companies in the petroleum industry.
It will help to ensure that prices are stable and predictable, while also allowing companies to make a reasonable profit.