Abass Ibrahim Tasunti, the NPA’s Head of Economic Regulation, said his organisation anticipates more gasoline price cuts at the pump beginning on August 1, 2022, in response to the decline in the price of petrol and diesel on the global market.
He informed Citi Business News that the NPA would be watching the pumps to check if fuel outlets are following the pricing formula while revising their fuel rates while speaking to them on the sidelines of an NPA media interaction in Takoradi.
According to him “The fuel price changes are influenced by changes of the price on the world market and the exchange rate in particular. We have seen reductions at the pumps in the past one month purely because the world market prices have dropped. In the next window in which we are going into, we have observed that the price of petrol and diesel have gone down again, and therefore we expect some price reductions at the pumps in the next window which starts from the 1st of August.”