Consumers of petroleum products must be paying an additional 3 pesewas per liter for the fuel they buy at the numerous fuel pumps from today June 1, 2020.
According to the National Petroleum Authority, NPA, this follows an increase of the BOST Margin in the cost accumulation of petroleum products.
Currently, a liter of gas and diesel has a BOST Margin of 3 pesewas, however, that has now increased to 6 pesewas.
In a statement issued by the NPA, it said the review in the price was approved by the cabinet
“We write to inform you of a review of the BOST Margin in the Price Build-Up (PBU) of petroleum products effective 1st June 2020. This is in line with a decision taken by Cabinet and communicated to the National Petroleum Authority (NPA) by the Ministry of Energy,” the statement said.
According to NPA, starting from June 1, 2020, their cost build-up of petroleum products will double. This then means that consumers of petrol, diesel, Kerosene, premix fuel, among others will pay more when they go to the various outlets to buy any of those products from Monday.
In a circular dated May 29, 2020 and signed by Alhassan Tamppuli, the Chief Executive Officer of the NPA, the authority says the decision to increase the margins was taken by Cabinet and communicated through the Ministry of Energy.
Per the NPA circular, the Bost margin on Petrol has increased from GH¢3.00 to GH¢6.00 while that of diesel has also moved from GH¢3.00 to GH¢6.00. However, all other items in the price build-up remained unchanged.
Also, the margin on Kerosene, which used to be GH¢3 has also increased to GH¢6. Few months ago, the NPA announced new margins on Liquefied Petroleum products (LPG), increasing it by some GH¢3.00.
The BOST margin constitutes 2.47% of the total price build up (PBU).
This was later redrawn following agitations from the Association of LPG Marketers. The LPG column in the table of containing the new Bost margins, as per the NPA circular, was empty. This could mean that the NPA is still maintaining the old margins in LPG.
