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Beginning Tuesday June 16, 2015, all Oil Marketing Companies (OMCs) will announce their ex-pump prices for petroleum products and display same at their retail outlets, the National Petroleum Authority (NPA) has announced.

This, according to the NPA was in line as a first step towards the implementation of Petroleum Product price deregulation.

A statement signed by the Chief Executive of the NPA, Mr Moses Asaga on Monday evening said the NPA will monitor the application of the Prescribed Petroleum Pricing Formula to ensure that all Petroleum Service Providers apply the formula in the right way and defaulters will be duly sanctioned. 

“The implementation of this first stage of price deregulation will continue into subsequent pricing windows while the Authority reviews the existing legal framework of petroleum products pricing towards a smooth implementation of the full steps of petroleum products price deregulation in Ghana,” the statement said.