The Association of Oil Marketing Companies (AOMC) has announced that the two-month removal of the price stabilisation and recovery levy would not lead to a reduction in fuel prices in the next pricing window.

The Chief Executive of the AOMC, Kwaku Agyemang-Duah issued a press release to that effect to clarify the reduction view held by the public.

According to him, the purported removal of the “Price Stabilization and Recovery Levy (PSRL) would take effect only after a formal and written communication from the National Petroleum Authority (NPA) to the Petroleum Downstream Industry, duly signed by the Chief Executive.”

He added that “the public should be reminded that prices of petroleum products are computed by each OMC independently and submitted to the Regulator, as a compliance to the Price Build-Up formula.”

The release indicated that the second pricing of the month starts on Saturday, 16th October 2021, adding that Friday October 15 marked the end of the current pricing window.

Below are the expected range of ex-pump prices in the second window starting from Saturday 16^th October 2021 according to AOMC Market Research Index.

1. Range of Ex-Pump prices per litre (Including Current Price Stabilisation and Recovery Levy, PSRL)

Petrol = 6.88 Ghs - 7.11 Ghs

Diesel = 6.82 Ghs - 7. 05 Ghs

2. Range of Ex-Pump prices per litre (Excluding the Price Stabilisation and Recovery Levy, PSRL)

Petrol = 6.72 Ghs - 6.95 Ghs

Diesel = 6.68 Ghs - 6.91 Ghs