Fuel prices met a marginal decrease on the 16th of March 2020 as reviewed, This came as a result of the 30% drop in global crude prices and the relative stability of the cedi against major international currencies.
Addressing a Press conference on Tuesday, the Chief Executive Officer of the NPA, Hassan Tampuli, indicated the said reduction may take place by March,16.
Industry watchers, like the Chamber of Petroleum Consumers (COPEC) the Institute of Energy Security (IES) had called for between 10-32% downward adjustment to reflect the global drop in crude prices.
Prices of fuel has since after that remained reduced by 4% and 5% respectively at a number of shell stations monitored on 18th of March 2020 by the Upperwestmedia Team.
List of Shell Stations in Wa and their Prices
1. Goil – 5.110 (Patrol) (Diesel) – 5.170
2. TOTAL – 5.110 (Patrol) (Diesel) – 5.120
3. Petrosol – 5.070 ( Patrol) (Diesel) – 5.110
4. Jusbro – 4.960 (Patrol) (Diesel) – 4.960
5. Excel – 5.000 (Patrol) (Diesel) – 5.090
6. Frimps – 5.100 (Patrol) (Diesel) – 5.100
The estimated price fall was calculated as 0.78 pesewas reduction on the prices, Ghc 5.390 per litre was the price of patrol before 16th March 2020, it was expected to drop to Ghc 4.610.
Prices have since dropped by only 6% at most shell stations in Wa
Which left several questioning if they are being cheated.