National Petroleum Authority (NPA) has said, its job as a regulator is to ensure that consumers get value for money.
Officials of NPA made the revelation during an engagement with journalists in the Upper East Regional capital Bolgatanga on Tuesday, June 14, 2022.
Issues regarding the quality of petroleum products and the price of petroleum products in recent times have become a public debate among citizens who one way or the other do not understand the operation of the National Petroleum Authority and what goes into the pricing of petroleum products.
Most people even believe the government is responsible for the price determination of petroleum products in the country. These and more, have triggered officials of NPA to the Upper East Region to sensitize media practitioners.
According to the Head of Economic Regulation at the National Petroleum Authority, NPA, Abass Ibrahim Tasunti, in order to clear some misconceptions surrounding the activities of NPA, there is a need for media engagement.
“We thought that as journalists who continue to engage the public through your platforms, it will be very good for you to get some understanding of what goes into the pricing of petroleum products and also the issue of quality. We want to make sure you understand what NPA does to ensure that the integrity of the product we buy at pumps are intact”. He said
Abass Ibrahim Tasunti said, “the price of petroleum product is done through a formula and in this formula, you would notice that key driver of the price of the petroleum product is based on what happened on the world market. It is directly influenced by the price of the product on the world market.
“We want people to understand that regulator’s job is to ensure that consumers get value for money. We don’t determine the price but, we make sure the pricing is done according to the formula.
Apexnewsgh.com/Ghana/Ngamegbulam Chidozie Stephen
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