• 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

CEMSE proposes measures to mitigate fuel price escalation

1 year ago
in Business, Economy, Energy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
65
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

CEMSE proposes measures to mitigate fuel price escalation

The Centre for Environmental Management and Sustainable Energy (CEMSE) has proposed a series of interventions aimed at mitigating an anticipated escalation in ex-pump prices of fuel in the first-pricing window of the month of June.

With international market prices projected to surge in the coming windows, CEMSE’s recommendations underscore strategic initiatives to alleviate the impending burden on consumers and businesses alike.

Firstly, CEMSE calls upon the Bank of Ghana to bolster its forex allocation for oil importers, advocating an increase from the current 25% to 80%.

This move aims to enhance stability by instructing importers to base fuel prices on the averages of auctioned dollars and prevailing market rates.

The projected outcome of this measure is a potential reduction of 50 pesewas per litre on either diesel or petrol, easing the strain on consumers at the pump.

Secondly, the institution urges the National Petroleum Authority (NPA) to consider deregulating the Unified Petroleum Price Fund (UPPF), allowing market forces to dictate transport prices.

RelatedPosts

Gold Price Hits Record High as Investors Seek Safety

Nigeria: Forex Traders Say Chinese Traders Now Collecting Naira Instead of Dollars

Chinese Firm Faces $420 Million Zambia Mine Spill Damages Claims

By relinquishing control over UPPF, CEMSE anticipates a similar reduction of 50 pesewas per litre on petrol or diesel, providing further relief to consumers.

Additionally, CEMSE highlights disparities in LPG prices compared to petrol or diesel, attributing the variance to an NPA-introduced fee of $80/MT since April 2024.

The recommendation is for the regulator to halt the collection of this fee, potentially lowering LPG prices by approximately Ghc1.80 per kg.

Despite observations of declining international market prices for diesel, petrol, and LPG, CEMSE underscores the impact of Ghana’s currency depreciation against the US dollar.

As the Cedi depreciated by 3.06%, the organization foresees a surge in ex-pump prices commencing June 1st, 2024, primarily driven by currency fluctuations rather than international market dynamics.

CEMSE’s strategic proposals aim to navigate the impending challenges and safeguard against undue economic strain in Ghana’s fuel market.

Tags: CEMSECEMSE proposes measures to mitigate fuel price escalationdieselFuel priceNPApetrol
No Result
View All Result

Highlights

60% of Africans Don’t Believe Democracy is Working in Their Interests – How Parliaments Can Fix The Problem

Banking Sector the Most Robust and Advanced Sector in Fight Against Money Laundering – Report

West Africa: Ghana Flagged as Target for Illicit Financial Flows in Latest National Risk Assessment

Central Bank Raises GH¢2.34bn in Short-Term Bill Sale at Nearly 25% Yield

Summer 2025 Transfer Window: Record-Breaking Moves Reshape European Football

Chamber of Mines Cautions Government Against Halving Mining Lease Tenure

Trending

Business

Gold Price Hits Record High as Investors Seek Safety

September 2, 2025

Gold Price Hits Record High as Investors Seek Safety The price of gold has hit a record...

Nigeria: Forex Traders Say Chinese Traders Now Collecting Naira Instead of Dollars

September 2, 2025

Chinese Firm Faces $420 Million Zambia Mine Spill Damages Claims

September 2, 2025

60% of Africans Don’t Believe Democracy is Working in Their Interests – How Parliaments Can Fix The Problem

September 2, 2025

Banking Sector the Most Robust and Advanced Sector in Fight Against Money Laundering – Report

September 2, 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.