Energy policy analyst organisations have called on the National Petroleum Authority (NPA) to take firm action against Oil Marketing Companies (OMCs) and Bulk Distribution Companies (BDCs) accused of increasing fuel prices in the middle of an active pricing window.
The call follows concerns that some petroleum market operators are adjusting wholesale and retail fuel prices before the expiration of the applicable two-week pricing cycle, citing fluctuations in international crude oil prices.
The Centre for Environmental Management and Sustainable Energy (CEMSE) is among organisations raising concerns over the practice.
Its Executive Director, Benjamin Nsiah, said petroleum market operators are expected to maintain the pricing structures submitted to and approved by the NPA at the beginning of each pricing window.
According to him, a BDC that increases its prices in response to international market developments while an existing pricing window is still in force would be acting contrary to the applicable pricing regulations.
He therefore urged the NPA to strictly enforce its regulatory framework and take appropriate action against companies found to be engaging in such practices.
Mr Nsiah also raised concerns about OMCs allegedly changing their ex-pump prices during an active pricing window, particularly where the revised prices differ from those submitted to and published by the NPA.
He said each pricing window is based on an established petroleum price indicator and stressed the need for petroleum market operators to comply with the approved pricing regime.
The concerns come amid heightened volatility on international crude oil markets, with Brent crude recently approaching $100 per barrel as tensions in the Middle East intensified.
However, the advocacy position cited in the report is that fluctuations in international crude prices should not be used as a basis for increasing domestic fuel prices before the end of an existing pricing window.
Energy policy advocates acknowledge that sustained increases in international crude prices could eventually affect fuel and transport costs in Ghana, but argue that any legitimate price adjustments should take effect with the commencement of the next pricing window.
