The National Petroleum Authority (NPA) has started enforcing the “price floor” for petroleum products in the country.
The initiative, which is part of the NPA’s new pricing guidelines starts from April 16, to April 30, 2024 for the next window.
A circular issued on April 12, 2024 to the various players in the oil marketing and distribution industry seen by Joy Business stated that a litre of petrol should not be sold below ₵13.2 by Oil Marketing Companies (OMCs) and Petroleum Service Providers (PSPs).
Diesel on the other hand will have a price floor of ₵13.7.
The directive also added that a kilogram of Liquefied Petroleum Gas (LPG) must not be sold below ₵ 10.52.
The notice reminded the various players including the OMCs to strictly comply with the new pricing guidelines for the industry.
The price floor announcement covers the second pricing window for petroleum products, which runs from …
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