NPA Reverses 5 Pesewas Increment In Fuel Marking Margin
The National Petroleum Authority (NPA) has reversed an increase in Fuel Marking Margin (FMM).
On March 14, the Authority announced an increase in fuel margin from four pesewas to nine pesewas.
The margin affected petroleum products like diesel, kerosene, petrol, premix fuel, gasoil mines, etc.
According to the NPA, the increase was necessary to guarantee fuel quality in the country and was to take effect on April 16.
In reaction, the Ranking Member on the Mines and Energy Committee, John Jinapor, jabbed the government for the decision.
He pointed out that it would affect pump prices.
“The National Petroleum Authority has just increased the Fuel Marking Margin by a whopping 125%. Expect this to impact the price of fuel at the pump. The Akuffo-Addo/Bawumia-led government has completely lost it,” he posted on Facebook.
A day later, the Authority announced a reversal of the decision.
The fuel margin now stands at 4 pesewas like previously.
