Mixed reactions from drivers on fuel price reduction

There are mixed reactions to the latest fuel price reduction which took effect this morning. Fuel prices have gone down at the pump between 10-15 percent. This follows the latest review of prices by Oil Marketing Companies in line with government’s deregulation policy.
Per the new prices, petrol is now being sold between ¢15.00 to ¢16.00 down from the 18.00 cedis it was sold at prior to the reduction. As a result of the new price deregulation policy, fuel prices will no longer be announced by the National Petroleum Authority. The Authority will, however, monitor the pricing by the individual Oil Marketing Companies to ensure that consumers are not cheated. Joy Business’ Chantelle Asante has visited some filling stations and reports some drivers are not entirely happy about the quantum of reduction. At the Total filling station at Pig Farm in Accra, petrol has been reduced by some 11 percent per litre. “To my surprise, it is almost 16.00 cedis a gallon and I think it is still expensive, something must be done. It used to be 18.00 cedis,” a driver said. However, another driver who had bought petrol at 18.00 cedis a gallon last night was happy with the reduction.