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	<title>petroleum products Archives - Sweet Melodies FM</title>
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	<title>petroleum products Archives - Sweet Melodies FM</title>
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		<title>NPA fines 7 petroleum service companies about GH3 million</title>
		<link>https://www.sweetmelodiesfm.com/npa-fines-7-petroleum-service-companies-about-gh3-million/</link>
		
		<dc:creator><![CDATA[Editor]]></dc:creator>
		<pubDate>Wed, 25 May 2022 10:12:53 +0000</pubDate>
				<category><![CDATA[Features]]></category>
		<category><![CDATA[Business]]></category>
		<category><![CDATA[National Petroleum Authority (NPA)]]></category>
		<category><![CDATA[petroleum products]]></category>
		<category><![CDATA[Petroleum Service Providers]]></category>
		<guid isPermaLink="false">https://www.sweetmelodiesfm.com/?p=77086</guid>

					<description><![CDATA[<p>The National Petroleum Authority (NPA) has fined seven Petroleum Service Providers almost $3 million for illicit third-party trading of petroleum products. The NPA says the move is geared towards sanitising the sector and ensuring standard practice among businesses in the space. The authority in a statement said it has “taken notice of infractions by some [&#8230;]</p>
<p>The post <a href="https://www.sweetmelodiesfm.com/npa-fines-7-petroleum-service-companies-about-gh3-million/">NPA fines 7 petroleum service companies about GH3 million</a> appeared first on <a href="https://www.sweetmelodiesfm.com">Sweet Melodies FM</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><strong>The National Petroleum Authority (NPA) has fined seven Petroleum Service Providers almost $3 million for illicit third-party trading of petroleum products.</strong></p>
<p>The NPA says the move is geared towards sanitising the sector and ensuring standard practice among businesses in the space.</p>
<p>The authority in a statement said it has “taken notice of infractions by some Petroleum Service Providers (PSPs) who have engaged in illicit third-party trading of petroleum products and has accordingly applied the requisite sanctions.”</p>
<p>It listed the affected companies and accompanying sanctions as follows:</p>
<p>1. That Moari Oil Co. Ltd pays a fine of GHS50,000.00 comprising of GHS10,000.00 for engaging in Third-Party Supplies and GHS40,000.00 for the unlawful lifting of petroleum products.</p>
<p>2. That Rodo Oil Co. Ltd pays a fine of GHS350,000.00 comprising of GHS10,000.00 for engaging in Third-Party Supplies, GHS340,000.00 for the unlawful lifting of petroleum products, and a one (1) month suspension of operations.</p>
<ul>
<li><a href="https://www.sweetmelodiesfm.com/well-make-sure-oil-marketing-companies-charge-fair-prices-for-their-products-npa/">We&#8217;ll make sure oil marketing companies charge fair prices for their products – NPA</a></li>
<li><a href="https://www.sweetmelodiesfm.com/fuel-prices-may-go-up-again-before-end-of-october-npa/">Fuel prices may go up again before end of October – NPA</a></li>
</ul>
<p>3. That MBA Global Ltd pays a fine of GHS85,000.00 comprising of GHS 10,000.00 for engaging in Third-Party Supplies, GHS75,000.00 for the unlawful lifting of petroleum products, and one (1) month suspension of operations.</p>
<p>4. That Cigo Energy Ltd pays a fine of GHS245,000.00 comprising of GHS10,000.00 for engaging in Third-Party Supplies and GHS235,000 for the unlawful lifting of petroleum products.</p>
<p>5. That Torrid Global Ltd pays a fine of GHS550,000.00 comprising of GHS 10,000.00 for engaging in Third-Party Supplies and GHS540,000.00 for the unlawful lifting of petroleum products.</p>
<p>6. That Naddif Co. Ltd pays a fine of GHS150,000.00 comprising of GHS 10,000.00 for engaging in Third-Party Supplies, GHS140,000.00 for the unlawful lifting of petroleum products, and one (1) month suspension of operations.</p>
<p>7. That GAT Oil pays a fine of GHS120,000.00 comprising of GHS 10,000.00 for engaging in Third Party Supplies, GHS110,000.00 for the unlawful lifting of petroleum products, and one (1) month suspension of operations.</p>
<p>“Any company that fails to comply with the rules and guidelines stipulated by the National Petroleum Authority will be subjected to appropriate sanctions,’ it cautioned.</p>
<p>The post <a href="https://www.sweetmelodiesfm.com/npa-fines-7-petroleum-service-companies-about-gh3-million/">NPA fines 7 petroleum service companies about GH3 million</a> appeared first on <a href="https://www.sweetmelodiesfm.com">Sweet Melodies FM</a>.</p>
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		<title>Matthew Opoku Prempeh explains why the fuel price has been reduced by 15 pesewas</title>
		<link>https://www.sweetmelodiesfm.com/matthew-opoku-prempeh-explains-why-the-fuel-price-has-been-reduced-by-15-pesewas/</link>
		
		<dc:creator><![CDATA[Editor]]></dc:creator>
		<pubDate>Fri, 01 Apr 2022 12:35:36 +0000</pubDate>
				<category><![CDATA[Features]]></category>
		<category><![CDATA[Business]]></category>
		<category><![CDATA[Dr Matthew Opoku Prempeh]]></category>
		<category><![CDATA[fuel price]]></category>
		<category><![CDATA[petroleum products]]></category>
		<guid isPermaLink="false">https://www.sweetmelodiesfm.com/?p=75749</guid>

					<description><![CDATA[<p>The Minister of Energy, Dr. Matthew Opoku Prempeh has suggested that government is at its wits’ end on how far Ghanaians can be cushioned, following the rise in prices of petroleum products at the pumps. The government recently announced a 15 pesewas reduction on fuel prices, which is being sold at a minimum of GH¢9.2 [&#8230;]</p>
<p>The post <a href="https://www.sweetmelodiesfm.com/matthew-opoku-prempeh-explains-why-the-fuel-price-has-been-reduced-by-15-pesewas/">Matthew Opoku Prempeh explains why the fuel price has been reduced by 15 pesewas</a> appeared first on <a href="https://www.sweetmelodiesfm.com">Sweet Melodies FM</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><strong>The Minister of Energy, Dr. Matthew Opoku Prempeh has suggested that government is at its wits’ end on how far Ghanaians can be cushioned, following the rise in prices of petroleum products at the pumps.</strong></p>
<p>The government recently announced a 15 pesewas reduction on fuel prices, which is being sold at a minimum of GH¢9.2 per liter.</p>
<p>However, this was not received lightly, as many described it as woefully inadequate. Commercial drivers for instance, have threatened to increase fares by 15%.</p>
<p>In an interview with Citi News on the President’s State of the Nation Address, the sector minister however said the prices are largely affected by external factors and the government cannot affect a reduction beyond 5%.</p>
<ul>
<li><a href="https://www.sweetmelodiesfm.com/fuel-price-cuts-of-ghp15-will-have-an-impact-on-planned-transportation-fare-increases-gprtu/">Fuel price cuts of GHp15 will have an impact on planned transportation fare increases – GPRTU</a></li>
<li><a href="https://www.sweetmelodiesfm.com/fuel-price-reduction-of-15-pesewas-per-litre-is-woefully-inadequate-concerned-drivers/">Fuel price reduction of 15 pesewas per litre is woefully inadequate – Concerned drivers</a></li>
</ul>
<p>“Isn’t it true that covid has affected the developed world, and things have been made worse by the Russia – Ukraine war? Isn’t it true that some countries have started practicing petroleum products patriotism? Over 80% of petroleum products depend on the outside external price. Even if we took all the 2.43 cedis, that is the government’s stake, out of the fuel, it would not have contributed to more than 5 percent.”</p>
<p>Diesel is currently selling between GH¢10 and GH¢11 per litre, while the price of petrol has <strong>c</strong>rossed the GH¢9 mark at some fuel stations.</p>
<p>The price of the product will, however, go down by 15 pesewas per litre effective April 1, 2022.</p>
<p>This, according to Finance Minister, Ken Ofori-Atta, will be in place for three months.</p>
<p>The post <a href="https://www.sweetmelodiesfm.com/matthew-opoku-prempeh-explains-why-the-fuel-price-has-been-reduced-by-15-pesewas/">Matthew Opoku Prempeh explains why the fuel price has been reduced by 15 pesewas</a> appeared first on <a href="https://www.sweetmelodiesfm.com">Sweet Melodies FM</a>.</p>
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		<title>Fuel price cuts of GHp15 will have an impact on planned transportation fare increases – GPRTU</title>
		<link>https://www.sweetmelodiesfm.com/fuel-price-cuts-of-ghp15-will-have-an-impact-on-planned-transportation-fare-increases-gprtu/</link>
		
		<dc:creator><![CDATA[Editor]]></dc:creator>
		<pubDate>Fri, 01 Apr 2022 11:26:06 +0000</pubDate>
				<category><![CDATA[Features]]></category>
		<category><![CDATA[Business]]></category>
		<category><![CDATA[Ghana Private Road Transport Union (GPRTU)]]></category>
		<category><![CDATA[petroleum products]]></category>
		<category><![CDATA[transport fares]]></category>
		<guid isPermaLink="false">https://www.sweetmelodiesfm.com/?p=75740</guid>

					<description><![CDATA[<p>The leadership of the Ghana Private Road Transport Union (GPRTU) says the government’s decision to reduce petroleum products by 15 pesewas effective today, April 1, 2022, will inform the percentage the union will increase transport fares. Fuel prices in Ghana will go down by 15 pesewas per litre effective today. This reduction will be in [&#8230;]</p>
<p>The post <a href="https://www.sweetmelodiesfm.com/fuel-price-cuts-of-ghp15-will-have-an-impact-on-planned-transportation-fare-increases-gprtu/">Fuel price cuts of GHp15 will have an impact on planned transportation fare increases – GPRTU</a> appeared first on <a href="https://www.sweetmelodiesfm.com">Sweet Melodies FM</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><strong>The leadership of the Ghana Private Road Transport Union (GPRTU) says the government’s decision to reduce petroleum products by 15 pesewas effective today, April 1, 2022, will inform the percentage the union will increase transport fares.</strong></p>
<p>Fuel prices in Ghana will go down by 15 pesewas per litre effective today. This reduction will be in place for three months.</p>
<p>This was disclosed by the Minister of Finance, Ken Ofori-Atta, last Thursday, March 24, 2022, while announcing measures put in place by the government to cushion Ghanaians against current economic shocks.</p>
<p>Speaking at a Press Conference, Public Relations Officer of the GPRTU, Abass Imoro, said the union will deliberate on a new percentage increase.</p>
<p>“We have to look at how much is going to be reduced from the fuel to inform us on how much we are going to come up with.”</p>
<ul>
<li><a href="https://www.sweetmelodiesfm.com/fuel-price-reduction-of-15-pesewas-per-litre-is-woefully-inadequate-concerned-drivers/">Fuel price reduction of 15 pesewas per litre is woefully inadequate – Concerned drivers</a></li>
<li><a href="https://www.sweetmelodiesfm.com/govt-must-act-on-rising-fuel-prices-public-interest-is-paramount/">Gov&#8217;t must act on rising fuel prices: public interest is paramount</a></li>
</ul>
<p>But he stressed that “definitely, we are going to come out with an upward adjustment in lorry fares.”</p>
<p>The GPRTU has tried to engage the government over a proposal to increase transport fares by 20%.</p>
<p>Transport fares were increased by 15 percent in February when fuel prices averaged GH¢6.4 per litre</p>
<p>A litre of fuel now sells for GH¢10 after crossing the GHS 8 per litre mark in the first week of March 2022.</p>
<p>The post <a href="https://www.sweetmelodiesfm.com/fuel-price-cuts-of-ghp15-will-have-an-impact-on-planned-transportation-fare-increases-gprtu/">Fuel price cuts of GHp15 will have an impact on planned transportation fare increases – GPRTU</a> appeared first on <a href="https://www.sweetmelodiesfm.com">Sweet Melodies FM</a>.</p>
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		<title>Fuel price reduction of 15 pesewas per litre is woefully inadequate – Concerned drivers</title>
		<link>https://www.sweetmelodiesfm.com/fuel-price-reduction-of-15-pesewas-per-litre-is-woefully-inadequate-concerned-drivers/</link>
		
		<dc:creator><![CDATA[Editor]]></dc:creator>
		<pubDate>Fri, 25 Mar 2022 12:08:51 +0000</pubDate>
				<category><![CDATA[News]]></category>
		<category><![CDATA[Business]]></category>
		<category><![CDATA[Concerned Drivers Association]]></category>
		<category><![CDATA[petroleum products]]></category>
		<guid isPermaLink="false">https://www.sweetmelodiesfm.com/?p=75379</guid>

					<description><![CDATA[<p>The Concerned Drivers Association of Ghana is disappointed at the government’s decision to reduce the price of petroleum products by 15 pesewas per litre. The association contends that the amount is woefully inadequate. The Finance Minister announced the reduction which is expected to take effect from April 1 for three months as part of measures [&#8230;]</p>
<p>The post <a href="https://www.sweetmelodiesfm.com/fuel-price-reduction-of-15-pesewas-per-litre-is-woefully-inadequate-concerned-drivers/">Fuel price reduction of 15 pesewas per litre is woefully inadequate – Concerned drivers</a> appeared first on <a href="https://www.sweetmelodiesfm.com">Sweet Melodies FM</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><strong>The Concerned Drivers Association of Ghana is disappointed at the government’s decision to reduce the price of petroleum products by 15 pesewas per litre.</strong></p>
<p>The association contends that the amount is woefully inadequate.</p>
<p>The Finance Minister announced the reduction which is expected to take effect from April 1 for three months as part of measures put in place by the government to cushion Ghanaians against current economic shocks.</p>
<p>In a Citi News interview, the Public Relations Officer of the Concerned Drivers Association of Ghana, David Agboado, said the 15 pesewas is not welcomed.</p>
<p>“The last time we increased transport fares fuel was sold at GHS 7.99, as it stands, it is GHS 10. 90 pesewas, and the best intervention government could come up with was to absorb only 15 pesewas.”</p>
<p>“We would have been better off if government hadn’t touched it at all.”</p>
<ul>
<li><a href="https://www.sweetmelodiesfm.com/govt-must-act-on-rising-fuel-prices-public-interest-is-paramount/">Gov&#8217;t must act on rising fuel prices: public interest is paramount</a></li>
<li><a href="https://www.sweetmelodiesfm.com/gprtu-plans-to-propose-another-20-increase-in-transportation-fares-over-rising-fuel-cost/">GPRTU plans to propose another 20% increase in transportation fares over rising fuel cost</a></li>
</ul>
<p>Already, commercial drivers are pushing for another 20% increase in transport fares to cushion them against the current fuel prices although their last fare increase was only in February this year.</p>
<p>Prices of petroleum products have skyrocketed within the last few days.</p>
<p>Diesel is currently selling between GH¢10 and GH¢11 per litre, while the price of petrol has crossed the GH¢9 mark at some fuel stations.</p>
<p>This has led to an upsurge in general prices. A recent report released by the Ghana Statistical Service noted that petroleum and food prices are the major driving forces of inflation in Ghana in recent times</p>
<p>Fuel prices in Ghana will go down by 15 pesewas per litre effective April 1, 2022. This reduction will be in place for three months, according to Finance Minister, Ken Ofori-Atta.</p>
<p>The post <a href="https://www.sweetmelodiesfm.com/fuel-price-reduction-of-15-pesewas-per-litre-is-woefully-inadequate-concerned-drivers/">Fuel price reduction of 15 pesewas per litre is woefully inadequate – Concerned drivers</a> appeared first on <a href="https://www.sweetmelodiesfm.com">Sweet Melodies FM</a>.</p>
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		<title>Gov’t has agreed to eliminate some taxes on petroleum products</title>
		<link>https://www.sweetmelodiesfm.com/govt-has-agreed-to-eliminate-some-taxes-on-petroleum-products/</link>
		
		<dc:creator><![CDATA[Editor]]></dc:creator>
		<pubDate>Tue, 22 Mar 2022 11:10:24 +0000</pubDate>
				<category><![CDATA[Features]]></category>
		<category><![CDATA[Business]]></category>
		<category><![CDATA[International market]]></category>
		<category><![CDATA[petroleum products]]></category>
		<guid isPermaLink="false">https://www.sweetmelodiesfm.com/?p=75195</guid>

					<description><![CDATA[<p>Government has reportedly agreed to scrap some taxes on petroleum products as a way of dealing with incessant increase in fuel prices largely caused by rising crude prices on the International market and a depreciating cedi against major currencies. The supposed government decision comes on the back of engagements with key groups and associations which [&#8230;]</p>
<p>The post <a href="https://www.sweetmelodiesfm.com/govt-has-agreed-to-eliminate-some-taxes-on-petroleum-products/">Gov’t has agreed to eliminate some taxes on petroleum products</a> appeared first on <a href="https://www.sweetmelodiesfm.com">Sweet Melodies FM</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><strong>Government has reportedly agreed to scrap some taxes on petroleum products as a way of dealing with incessant increase in fuel prices largely caused by rising crude prices on the International market and a depreciating cedi against major currencies.</strong></p>
<p>The supposed government decision comes on the back of engagements with key groups and associations which threatened to embark on a demonstration over the hikes in fuel prices.</p>
<p>Key among the groups engaged are the Concerned Drivers Association and the Chamber of Petroleum Consumers of Ghana (COPEC).</p>
<p>The taxes tabled to be removed include the Bost margin levy, Sanitation and petroleum levy, Price Stabilization Levy, Special Petroleum tax and the Energy Debt Recovery Levy.</p>
<ul>
<li><a href="https://www.sweetmelodiesfm.com/copec-has-threatened-to-hold-a-protest-over-fuel-price-increases/">COPEC has threatened to hold a protest over fuel price increases</a></li>
<li><a href="https://www.sweetmelodiesfm.com/fuel-prices-will-reach-ghs9-00-per-litre-before-the-end-of-march-copec/">Fuel prices will reach GHS9.00 per litre before the end of March –COPEC</a></li>
</ul>
<p>The Public Relations Officer of the Concerned Drivers Association of Ghana, David Agboado, in an interview with Citi News after the meeting said the levies are to be removed by close of today, Tuesday, March 22, 2022.</p>
<p>“The outcome is very simple. Government has agreed to scrap the taxes, and has assured that by close of Tuesday, we will hear the good news.”</p>
<p>“Well, if by the time given, government doesn’t do as it has said, we will go ahead with our demonstration.”</p>
<p>Fuel prices in Ghana have increased significantly in recent times.</p>
<p>Last week, major Oil Marketing Companies were selling Petrol at an average of GH¢9.70 and diesel at between GH¢9.99 and GH¢11.</p>
<p>Industry watchers and the Minority in parliament have called on the government to roll out measures to cushion Ghanaians due to the knock-on effect of fuel prices on every other sector, but the government is yet to make any concrete announcement on the subject.</p>
<p>There have been suggestions that the removal of the tax component which comes up to about GHS2.00 on a litre of petrol or diesel, may not make much difference or solve the problem if global crude prices keep going up.</p>
<p>The post <a href="https://www.sweetmelodiesfm.com/govt-has-agreed-to-eliminate-some-taxes-on-petroleum-products/">Gov’t has agreed to eliminate some taxes on petroleum products</a> appeared first on <a href="https://www.sweetmelodiesfm.com">Sweet Melodies FM</a>.</p>
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		<title>TUC is concerned about rising fuel prices and has called for the suspension of taxes on petroleum products</title>
		<link>https://www.sweetmelodiesfm.com/tuc-is-concerned-about-rising-fuel-prices-and-has-called-for-the-suspension-of-taxes-on-petroleum-products/</link>
		
		<dc:creator><![CDATA[Editor]]></dc:creator>
		<pubDate>Mon, 21 Mar 2022 17:28:57 +0000</pubDate>
				<category><![CDATA[News]]></category>
		<category><![CDATA[Business]]></category>
		<category><![CDATA[Fuel prices]]></category>
		<category><![CDATA[petroleum products]]></category>
		<category><![CDATA[Trades Union Congress (TUC)]]></category>
		<guid isPermaLink="false">https://www.sweetmelodiesfm.com/?p=75204</guid>

					<description><![CDATA[<p>The Trades Union Congress (TUC) has expressed worry over the frequent rise in the prices of petroleum products.  The Union says the situation is having a huge toll on the general welfare of the populace and the business community.  In a statement, the Union maintained that, the unstable fuel prices have led to increases in [&#8230;]</p>
<p>The post <a href="https://www.sweetmelodiesfm.com/tuc-is-concerned-about-rising-fuel-prices-and-has-called-for-the-suspension-of-taxes-on-petroleum-products/">TUC is concerned about rising fuel prices and has called for the suspension of taxes on petroleum products</a> appeared first on <a href="https://www.sweetmelodiesfm.com">Sweet Melodies FM</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p class="p1"><strong>The Trades Union Congress (TUC) has expressed worry over the frequent rise in the prices of petroleum products.<span class="Apple-converted-space"> </span></strong></p>
<p class="p1">The Union says the situation is having a huge toll on the general welfare of the populace and the business community.<span class="Apple-converted-space"> </span></p>
<p class="p1">In a statement, the Union maintained that, the unstable fuel prices have led to increases in prices of goods and services –<span class="Apple-converted-space">  </span>a development it describes as lamentable.<span class="Apple-converted-space"> </span></p>
<p class="p1">“Regardless of how one rationalizes the current situation, the truth is that the rising fuel prices have already had significant adverse impacts on living standards. Erosion of values of incomes has been severe, particularly for workers on fixed salaries. Many more Ghanaians have been pushed into poverty because of the rippling effects of higher fuel prices on general level of prices of other essential items.”</p>
<p>Prices of petroleum products have skyrocketed within the last few days.</p>
<ul>
<li><a href="https://www.sweetmelodiesfm.com/increased-fuel-prices-will-derail-the-economy-govt-must-act-copec/">Increased fuel prices will derail the economy; gov&#8217;t must act – COPEC</a></li>
<li><a href="https://www.sweetmelodiesfm.com/fuel-prices-drop-marginally-but-csos-transport-operators-question-pricing-system/">Fuel prices drop marginally but CSOs, transport operators question pricing system</a></li>
</ul>
<p>Diesel is currently selling between GH¢10 and GH¢11 per litre, while the price of petrol has crossed the GH¢9 mark at some filling stations.</p>
<p>This has led to an upsurge in general prices. A recent report released by the Ghana Statistical Service noted that petroleum and food prices are the major driving forces of inflation in Ghana in recent times.</p>
<p>Transport operators are also proposing to increase fares by 20% following the rise in fuel prices, after they last increased fares in February this year.</p>
<p class="p1">But as a means of cushioning the ordinary Ghanaians, the TUC suggested, among other proposals, the removal of all taxes and levies on the fuel price build-up.</p>
<p class="p1">“We propose that Government must immediately suspend all taxes and levies on petrol, diesel, LPG, and Kerosene. This should bring down prices of these fuel products by an average of about 15 percent. The suspension should remain in force until the international price of crude oil stabilizes and the decline of the cedi has been halted.”</p>
<p class="p1">“The reduction in fuel prices will hopefully translate into the stabilization of or even reduction in prices of other essential items. including food More importantly, suspending taxes and levies on these fuel products in these challenging times will demonstrate to Ghanaians that our government is sensitive to the plight of the people of Ghana”, the TUC added.<span class="Apple-converted-space"> </span></p>
<p>Click here for the <strong><a href="https://citinewsroom.com/wp-content/uploads/2022/03/TUC-LETTER-TO-GOVERNMENT-ON-FUEL-PRICE-INCREASES.pdf" target="_blank" rel="noopener">full statement </a></strong>from the TUC.</p>
<p>The post <a href="https://www.sweetmelodiesfm.com/tuc-is-concerned-about-rising-fuel-prices-and-has-called-for-the-suspension-of-taxes-on-petroleum-products/">TUC is concerned about rising fuel prices and has called for the suspension of taxes on petroleum products</a> appeared first on <a href="https://www.sweetmelodiesfm.com">Sweet Melodies FM</a>.</p>
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