Some WTO increase fuel prices at the pump

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Some petroleum marketing companies (OMCs) have started to raise fuel prices at pumping stations.

Total took the lead by selling a liter of diesel and gasoline respectively at 6.90 yen.

The upward adjustment results from the rise in crude oil prices on the international market.

The price of crude oil is currently around $ 82 on the world market.

It might even have been higher than the 1.47 percent increase if the price stabilization and recovery tax (PSRL) had not been suspended on fuel prices for the next two months. This resulted in a respective reduction of one liter of diesel and gasoline of 14 pesewas and 16 pesewas per liter.

However, some MOCs, largely smaller ones, have also reduced their prices slightly.

But the increase of Total and a few others is contrary to the assertion of the general manager of the Association of Oil Marketing Companies (AOMC), Kwaku Agyemang-Duah.

Mr. Agyemang-Duah told Joy Business that the implementation of the PSRL would trigger a slight reduction in fuel prices in the current price window.

The NPA has asked or ordered us to remove the stabilization tax from November 1 in order to mitigate it (fuel price) a little. It will therefore be a little lower than the previous window. By Monday, there will be a reduction… some reduction due to the cushioning effect of stabilization ”.

“Even if the price of crude oil increases, there will be a relative reduction. There is a damping effect on the fuel which will relieve us a bit. Basically the prices of gasoline, diesel and LPG (liquefied petroleum gas) will go down, ”he said.

But the chief executive of the Chamber of Petroleum Consumers, Duncan Amoah, disagreed, saying major MOCs – Total, Shell and GOIL would instead adjust fuel prices up.

“What is more likely to happen this month and the following days is more of a stability or rather an increase and not a reduction… which I can confirm. It is unlikely that they (OMCs) can go down, ”he said.

“Many of the bulk oil distribution companies you speak with now will indicate an upward adjustment of over 20 pesewas. So the source where you get the product from, if the importer is actually paying an increase and we are talking about a reduction of 20 pesewas, remember that some WTO have already distributed the 16 pesewas in anticipation of the adoption. by Parliament for the abolition of the PSRL, “he said.

Meanwhile, this latest increase in fuel prices could push unionized transport operators to start the process of raising tariffs.


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