Prices of petroleum products have dropped by 23% per the new index released by the Ghana Chamber of Bulk Oil Distributors.
Bulk Oil Distribution Companies (BDCs) have reduced their prices by 23% to Oil Marketing Companies (OMCs). Per the new index OMCs have also reduced prices of petroleum products between 10-20%.
The Chamber said the new fuel price indicator index affects four commodities – Petrol, Diesel, LPG and Kerosene.
The Chief Executive Officer of the Bulk Oil Distribution Companies, Senyo Hosi, told Radio Ghana the newly launched indicators are expected to show the trend of factors affecting petroleum products and also keep stakeholders informed about issues concerning petroleum products.
He said the reduction in the price of petroleum products was due to the Cedi recovery and the fall of crude oil prices on the international market.
The pricing formula has gone down by an average of 22-point-six percent.
Meanwhile, drivers are not happy because they claim filling stations are still maintaining the old prices.
Source: Daily Guide
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