National Petroleum Authority (NPA)

The National Petroleum Authority (NPA) has announced a new Price floor for the second pricing window, from 16th -31st October 2024. The authority has set GH₵12.73 for petrol and GH₵13.43 for diesel. The development means that no oil marketing company should be selling below the price quotes. The NPA in the notice to the Oil Marketing Companies (OMCs) and Liquefied Petroleum Gas (LPG) marketers advised all the players to comply with the above price floors for the window. It added that the price floors exclude the premiums charged by International Oil Trading Companies (IOTCs) and the operating margins of BIDECs,…

The National Petroleum Authority (NPA) has sanctioned seven Petroleum Products Marketing Companies (PPMCs) for illicit distribution of petroleum products. They are to pay fines for violating of Unified Petroleum Pricing Fund (UPPF) regulations, making false UPPF representations to the Authority, and engaging in third-party supplies. Failure by the affected companies to pay the fines will lead to a three-month suspension of their operations. In the case of Andev Co. Ltd, it will pay a total fine of GHS90,000.00. This comprises GHS10,000.00 for violating UPPF regulations and GHS10,000.00 each for eight (8) counts of making false UPPF representations to the Authority.…