The National Petroleum Authority (NPA) has announced the immediate scrapping of the application of discounted fuel prices across Ghana’s downstream petroleum sector.
The decision, according to the Authority, is aimed at ensuring transparency, promoting fair competition among industry players, and protecting the integrity of the country’s petroleum pricing regime.
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In a statement issued in Accra, the NPA said the practice where some Oil Marketing Companies (OMCs) offered fuel at discounted prices below the approved market price framework had created distortions within the sector and undermined regulatory oversight.
The Authority explained that the move forms part of efforts to strengthen compliance with existing regulations governing petroleum pricing and marketing in the country.
It noted that while the deregulation policy allows OMCs to determine their pump prices based on market dynamics, the application of structured discounts had gradually evolved into practices that could negatively affect the sustainability of the industry.
“The Authority has therefore directed all industry players to desist from applying discounted pricing mechanisms that fall outside the approved petroleum pricing guidelines,” the statement said.
The NPA further warned that any company found violating the directive would face sanctions in accordance with the Petroleum Authority Act and other applicable regulations.
The Authority assured the public of its commitment to maintaining stability in the downstream petroleum sector while ensuring that consumers continue to receive fair and competitive pricing at the pump.
It also urged industry stakeholders to comply fully with the directive to safeguard the long-term efficiency and credibility of the petroleum supply chain in the country.
