OMCs Archives - Wontumi Online

14 Sep

Diesel, LPG Prices To Go Up 1%, 4% From September 16, 2023 – IES

Wontumi1BusinessDiesel, OMCs, Petrol

Prices of diesel and Liquefied Petroleum Gas (LPG) are expected to go up by 1 and 4 percent respectively from Saturday, September 16, 2023, the Institute for Energy Security (IES) has projected. However, the price of petrol is likely to remain unchanged during the second pricing window. “The impending increases are coming on the back of an increase in international market price of gasoil by 3.33% and LPG by 2.95%, coupled by a 0.97% depreciation of the Ghana cedi against the U.S. dollar on the foreign exchange market. By range, gasoil and LPG prices are expected to go up by…

14 Jul

OMCs Are Struggling, Some Are Making No Profits – Agyemang Duah

Wontumi1BusinessKwaku Agyemang Duah, OMCs

Chief Executive Officer of the Association of Oil Marketing Companies, Kwaku Agyemang Duah, says OMCs across the country are struggling. According to him, at the beginning of the year “we had almost about 40% of them who were struggling such that month-on-month they were not making anything.” “They were only trying to survive to make sure that they just break even and others are even under the water now and they’re trying to struggle to come up.” He chalked the phenomenon to the strong competition in Ghana’s petroleum sector. He stated that the country’s oil marketing sector has become saturated,…

14 Jul

NPA Is There To Ensure Consumers Get Value For Money – Abbas Tasunti

Wontumi1BusinessAbbas Tasunti, NPA, OMCs

Head of Economic Relations at the National Petroleum Authority, Abbas Tasunti, says the Authority is committed to ensuring that consumers get value for their money at the pumps. According to him, the deregulated nature of the petroleum market does not mean that the regulator is taking its oversight duties for granted. “It is for that reason why the oil marketing companies and even the bulk import and distribution companies are required to submit their prices to us for us to ensure that every price you see out there has been computed in accordance with the prescribed petroleum pricing formula,” he…

31 May

Petrol, Diesel Prices To Stay Same; LPG To Go Down 5% – IES

Wontumi1BusinessDiesel, IES, LPG, OMCs, Petrol

Prices of petrol and diesel are expected to stay the same in the first two weeks of June 2023. However, the price of Liquefied Petroleum Gas (LPG) is expected to decline by roughly 5% during the same period. According to the Institute for Energy Security (IES), this follows the Ghana cedi’s strong performance on the domestic forex market during the last two weeks, and the drop in the price of LPG on the international market, though international prices of the liquid products shot up. “The Institute for Energy Security’s (IES’) review of prices over the past two weeks as monitored…