Friday, February 11, 2022

World Market Prices on fuel determines pricing at the local pumps: NPA

 Story by GBCs Isaac Asare


NPA Boss and his entourage in a pose with staff of UE Reg Coordinating Council

The Head of Pricing at the National Petroleum Authority, NPA Abass Ibrahim Tasunti says in the face of perpetual hikes in the prices of petroleum on the world market, his outfit as a concerned regulator will continue to play its monitoring role in ensuring that Oil Marketing Companies give fair pricing to petroleum products so that consumers are not cheated. 

He noted that since the pricing of petroleum products in the country was deregulated in July 2015, government has been handicapped in determining the pricing of petroleum products because as prices go up on the international market, imported refined products such as petrol, LPG and diesel are indirectly affected at the local pumps. 



Mr Tasunti made the revelation during a media interaction in Bolgatanga as part of a two day day working visit to the Upper East Region by the management of the NPA led by its CEO, Mustapha Hamid. Areas visited by the NPA team includes the Regional Police Command where discussions were held with the Regional Police Commander, on matters of security for staff of the NPA and as well as protection of the region’s territorial borders against fuel smuggling. The last point of call was at the Paga border where the CEO and his entourage met with officials of the Ghana Immigration Service.

 The visit forms part of a 5-day familiarization tour to offices and installations that come under its jurisdiction. The CEO of the NPA, Mustapha Hamid in the company of other directors from the downstream industry made their entry into the region with a visit to the Bulk Oil Storage, BOST facility in Bolgatanga to familiarize himself with their operations, know their challenges and chart the way forward in making the strategic stock location a preferred hub in the constant supply of adequate petroleum to neighbouring Burkina Faso, Mali, Niger and other Saharan markets. 

CEO of NPA, Mustapha Hamid 

The Bolgatanga BOST depot is a strategic stock location that receives supply of petroleum products from Buipe, through a pipeline of over 260 kilometers. The facility which is among the six operational depots stretched across the country is expected to ensure constant supply of petroleum products both within and outside the country.  Meanwhile, the team earlier made a brief visit to the Regional Coordinating Council to announce his presence and were met on arrival by the Regional Coordinating Director, Alhaji Mahamadu Azonko who seized the platform to brief them on happenings in the region.

The CEO of the NPA, Mustapha Hamid for his part said the NPA was bent addressing the security and safety concern of its staff and more importantly deal with the fuel smuggling among other illegalities. At a media briefing to round up the tour, some directors at the NPA were subjected to questions from the media that border on hikes in petroleum prices, illegal citing of fuel stations and smuggling among others.

 On the increasing rise of fuel products, the Head of Pricing at the NPA, Abass Ibrahim Tasunti said since the country was exposed to the changes on the world market with regards to petroleum, there was little government could do to determine fuel pricing. However, his outfit is working in tandem with government to help cushion consumers. One of such interventions, he stated was the implementation of the energy sector levy.

Head of Pricing at the NPA, Abass Ibrahim Tasunti

Among the top officials that accompanied the NPA boss include the Head of Gas, Madam Intiwaa Kwakye, Director of Corporate Affairs, Maria Ocquaye, Director of Monitoring and Inspection, Esther Awuku and the Regional Manager of the NPA, Osman Mahama and a host of other directors. The team is scheduled to tour the Northern, Upper West, Bono and Ashanti Regions.

 

GBC NEWS                   END             

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