• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Energy

Duncan Amoah calls for a return to fuel price regulation after ‘failed’ price deregulation

3 years ago
in Energy, Features, highlights, Home, home-news, latest News, Markets
2 min read
0 0
0
101
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Duncan Amoah calls for a return to fuel price regulation after ‘failed’ price deregulation

Executive Director for the Chamber of Petroleum Consumers (COPEC), Duncan Amoah, has made calls for a return to petroleum price regulation seeing that the current petroleum price deregulation has failed to keep prices of petroleum products stable.

According to him, petroleum price deregulation has led to higher fuel prices and given recent trends in the international and domestic oil markets, Ghana is heading for a crisis.

“Deregulation has led to fuel price hitting GHS 13, we attempted to review it but we haven’t finished, and at this point we are getting into a crisis and if the authorities would sit down and try to find a certain framework that would work for at least for the next 6 months, that would really help.

“Price petroleum regulation might just be what we need now because we are not in normal times,” he stated speaking on the Business Edition of Joy News’ PM Express monitored by norvanreports.

His call for a return to petroleum price regulation was however, challenged by the Chief Executive Officer of Oil Marketing Company Petrosol, Michael Bozumbil, who was of the view that petroleum price regulation is still not needed.

“I would say petroleum price regulation is still not needed, petroleum price deregulation is not bad only that some aspects of it need to be properly addressed.

RelatedPosts

MTN Nigeria Now the Most Capitalized Stock in Nigeria

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

“Should we return to price regulation, you would see a lot of queues at the pumps, but under deregulation you don’t see that,” he remarked.

In an interview some months ago, Mr Amoah noted price deregulation has brought hardships in the lives of Ghanaians especially fuel consumers.

According to him, a lot of consideration did not go into the deregulation exercise, adding that government just took its hands off the final pricing at the pumps.

“It was just rolled out because government was tired and was choking on the legacy debt so the most immediate solution was to leave all the marketing companies. You bring your product, you set your own prices, if you make losses, I don’t owe you anything,” he stated.

Adding that, government has simply grown taxes on fuel price.

Source: norvanreports
Tags: Chamber of Petroleum Consumers (COPEC)Duncan Amoah calls for a return to fuel price regulation after ‘failed’ price deregulationghanapetroleum price deregulationpetroleum price regulation
No Result
View All Result

Highlights

Europe’s Energy Future Hinges on Global Powers

US Companies Cut Investments in China to Record Lows, Here’s Why

How AI is Rewriting and Enhancing Water Risk Management

SheFarms Broiler Edition Kicks Off in Greater Accra

PharmAccess Ghana, Healthcare Federation of Ghana sign SafeCare License Agreement; to use Newest ISQua-Certified Version 5

Tanzania Sink Burkina Faso to Delight Home Crowd In TotalEnergies CHAN 2024 Opener

Trending

Features

MTN Nigeria Now the Most Capitalized Stock in Nigeria

August 3, 2025

MTN Nigeria Now the Most Capitalized Stock in Nigeria MTN Nigeria has surged to become the most...

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

August 3, 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

August 3, 2025

Europe’s Energy Future Hinges on Global Powers

August 3, 2025

US Companies Cut Investments in China to Record Lows, Here’s Why

August 3, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.