Business News of Tuesday, 2 June 2020Source: www.ghanaweb.comBOST intervention could have prevented recent fuel price increase – COPECFile photoThe Chamber of Petroleum Consumers (COPEC) has said the June 1, 2020 pump price increases could have been prevented had the Bulk Oil Storage and Transportation Company delivered on its mandate. Executive Secretary of COPEC, Duncan Amoah, said Monday, that although the gradual ease in coronavirus restrictions across the globe is hiking demand, which is pushing the price of the product up, BOST and the state could have shielded consumers from the recent price increase. Otherwise, we should have enough fuel around this time even to still continue to suppress whatever blow fuel prices throw at us,” he added. The National Petroleum Authority (NPA) announced hikes in fuel prices in a release – an announcement many industry watchers say should have happened at least two weeks ago. Duncan Amoah has urged the government to resource BOST because prices of fuel products are likely to go up even more.
Source: GhanaWeb June 02, 2020 10:50 UTC