The Institute for Energy Policies and Research (INSTEPR), has welcomed the current reduction in the petroleum price margins by the National Petroleum Authority (NPA).
The National Petroleum Authority (NPA) reduced fuel margins by eight pesewas effective 5 May 2021, a communique issued by industry players said.
This follows a meeting between the Minister of Energy and the stakeholders in the petroleum sector on Tuesday (4 May).
Last week, NPA announced that an increase in the energy sector levy plus the introduction of the new sanitation and pollution levy as well as other margins will commence from 1 May 2021.
But a communique issued by industry players on Tuesday (4 May) said, “The 17 pesewas per litre increase in fuel margins previously announced by the NPA has been reduced to nine pesewas per litre effective Wednesday 5 May 2021.”
Responding to the latest development, Kojo Poku, the executive secretary of the Institute for Energy Policies and Research (INSTEPR) said the move by the NPA is laudable.
listen to Kojo Poku in the audio below:
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