Recent drops in global oil prices, combined with the relative stability of the cedi, have led to successive reductions in fuel costs at the pumps. However, some Oil Marketing Companies (OMCs), including Star Oil, argue that the price floor prevents them from passing on even deeper cuts to consumers. Fuel could sell for GH¢9.50 without NPA price floor - Star Oil CEO hints. “The NPA price floor was introduced as a competition-stabilising mechanism, not as a price-fixing tool. However, he lamented that the plan is impossible under the NPA’s price floor policy, which sets a minimum price below which fuel cannot be sold.
