The National Petroleum Authority has reduced the margin on the price of fuel by 8 pesewas per litre after an earlier increment of 17 pesewas.
This means the fuel prices will still increase by nine pesewas.
The reduction comes after a massive public outcry on social media by Ghanaians over the price hike, a situation that triggered the #fixthecountry now online protest.
But the NPA, after a meeting with stakeholders in the industry, reduced the 17-pesewa margin to 9 pesewas.
A communique by the Ministry of Energy on Tuesday, May 4, noted that a meeting between the Energy Minister and the National Petroleum Authority, the Association of Oil Marketing Companies, the Bulk Oil Storage and Transportation Company Ltd, the Chamber of Petroleum Consumers, and the Institute for Energy Policies and research led to the price alteration.
“The 17 pesewas per litre increase in fuel margin previously announced by the NPA has been reduced to 9 pesewas per litre effective tomorrow Wednesday 5th May 2021,” the memo signed by Energy Minster Matthew Opoku Prepeh alongside heads of other entities represented t the meeting.