The Chamber of Bulk Oil Distributors (CBOD) has announced that the price of petroleum products will go down by GHS1 from April.

The chamber said it is in talks with the Bank of Ghana (BoG) for Ghanaians to see a substantial reduction in fuel prices at the pump next month.

The Chief Executive Officer of CBOD, Mr Senyo Hosi, made this announcement on Accra100.5FM’s mid-day news on Monday, March 28, 2022.

“Ghanaians should expect to see a better reduction at the pump by half a cedi or a cedi in the next couple of days,” he said.

He said margins on the petroleum price build-up will see some reduction and not the taxes.  

“If all the measures are fully implemented, prices will fall by half a cedi or cedi per litre, which is way bigger than the GHp15 announced by the Finance Ministry,” he noted.

Meanwhile, the Communications Officer of Ghana Private Road Transport Union (GPRTU), Alhaji Abass Imoro, has expressed surprise at the GHp15 reduction by the government, stating that a decision will be taken on it at a meeting to be held on Tuesday, 29 March 2022.

According to him, they will reserve their comments on the reduction after tomorrow’s meeting with all the stakeholders in the transport sector, noting that the GHp15 is woefully inadequate, especially when Ghana is a crude oil producer.