Oil Marketing Companies (OMCs) will start announcing their ex-pump prices for petroleum products and display these prices at their retail outlets from today.
This is according to a statement issued by the National Petroleum Authority (NPA).
The NPA made known its intentions to no longer be involved in the pricing of petroleum products.
The Authority explained that the move forms part of the full deregulation of the petroleum downstream sector.
The Authority also allayed public fears that the BDCs will dupe Ghanaians with high pricing of petroleum products, insisting that the NPA “will still be a watchdog.
Since the announcement, however, concerns have been raised over this new policy in relation to timing, the pricing and the quality of products which will be sold to consumers.
The Chief Policy Analyst of the Ghana Institute for Public Policy Options (GIPPO), Dr. Charles Wereko-Brobby earlier questioned the legality of the decision by the NPA to leave the pricing of petroleum products to the Bulk Oil Distribution Companies (BDCs).
But the statement signed by the Chief Executive of the NPA, Moses Asaga 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.