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Business News of Tuesday, 18 October 2016

Source: classfmonline.com

11% fuel price hike report false - NPA

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The National Petroleum Authority (NPA) has urged the general public to ignore media reports indicating there has been an upward review of fuel prices.

The NPA, in a statement released on Tuesday October 18, said it had observed with concern media headlines suggesting that the price of fuel had increased by 11% at the pump, which was false.

In clarifying the matter, the statement said: “The Authority encourages consumers and the media to check on the price boards of retail stations to determine the true prices of fuel on the market and not rely on data from any group of persons who purport to project fuel prices, which always turn out to be poor and inaccurate.”

“When in doubt, consumers and the media should check with NPA’s website or the bi-weekly publications of retail prices of OMCs published in the Daily Graphic, the Ghanaian Times, and the Gazette by the Assembly Press for accurate information on the retails of fuel by OMCs.”