The Chamber of Petroleum Consumers (COPEC) says it disagrees with the Energy Minister’s decision to keep Bulk Oil Storage and Transportation Limited Company (BOST)'s margin on the petroleum price build-up.

COPEC says the decision is wrong and is not in the best interest of consumers.

According to the Executive Secretary of COPEC, Duncan Amoah, BOST has lost its relevance.

He explained that private Bulk Oil Distributors also store fuel at no fee to the consumer.

“I totally disagree with the Minister when he says that the margin will not be taken off bearing in mind the very fact that, the private BDCs also have depots where products are stored and they do not get any margin but operate leanly.

“So perhaps this conversation must be had in a broader manner,” he stressed.

The Energy Minister, Dr Mathew Opoku Prempeh at the Annual General Meeting of BOST on Wednesday, September 14, said 6 pesewas per litre charge will not be taken off.

According to Energy Minister, Mathew Opoku Prempeh, the levy is very important for the operations of the state institution and the economy.

The Manhyia South MP insisted that the introduction and subsequent increase in the margin to 6 pesewas have increased revenue for BOST by about 80% in 2021.

“I can promise Mr Chairman that the BOST margin on the price build-up for petroleum products is not going to be taken out anytime soon.

"We will use the fund efficiently and effectively to protect the citizens against private sector interests, which is always about profits for their businesses”.

“The margin will be accounted for and serve the people of Ghana to ensure that petroleum products are available in the country in case of any uncertainty,” he said.