Dr. Wereko-Brobbey Tasks NPA To Take Control Of The Oil Marketing Companies

The former Chief Executive Officer of the Volta River Authority(VRA) and chief policy analyst at the Ghana Institute of Public Policy Options, Dr. Charles Wereko-Brobbey has charged the National Petroleum Authority to take absolute control of the oil marketing companies in Ghana.

According to him, the major function of the National Petroleum Authority (NPA), is to regulate the petroleum industry and ensure that consumers are treated fairly.

The continuous increment of fuel prices has become a major challenge to the public especially motorists. The increment in fuel prices tends to affect almost every aspect of life and scales up prices.  According to Dr. Brobbey, ‘if the NPA cannot fulfill its cardinal role, then, the authority should be dissolved”. He again lamented the fact that the NPA has relayed its primary function to the Chamber of Petroleum Consumers (COPEC) to rather regulate the oil marketing sector. The major function of COPEC is to represent the interest of consumers and that looks similar to that of the function of the NPA but the Authority has an upper hand in regulating consumers’ interests.

In an interview monitored by the Ghana Report on the Eye Witness News, Dr. Brobbey indicated that “There is a jungle market going on in fuel pricing. Deregulation works because we have set up windows for which price changes will be announced. There are two windows for every month. The NPA as the regulator is supposed to ensure that it announces what is known as maximum retail prices, so no consumer gets cheated by the Oil Marketing Companies.”

“But NPA has reneged on its duty and given it to COPEC which is supposed to represent the interest of the consumer… COPEC is now the chief cheerleader for marketing companies that keep announcing prices willy-willy. That is not the way deregulation was set up to go, it just keeps piling the pressure on [consumers],” he added.

The Chief Executive Officer of the National Petroleum Authority, Dr. Mustapha Abdul-Hamid, since the issue of the continuous rise in fuel prices commenced, has been blaming the war between Ukraine and Russia as the president also laments.

Stakeholders have realized it is the responsibility of the NPA to bring out some solutions to curb the situation. As of Tuesday, November 1, diesel was sold att GH¢23.49 per litre at the pumps, petrol at GH¢17.99 per litre, and kerosene at GH¢14.70.

Meanwhile, COPEC has announced that the fuel prices at the pumps are likely to increase again by December 2022.