Business News of Saturday, 6 June 2020Source: www.ghanaweb.comMinority calls on govt to reverse 100% increase in BOST marginsMinority Spokesperson on Mines and Energy, Adam MutawakiluMinority parliamentarians have urged the government to reverse a 100 per cent increase of the BOST margins that has contributed to an increase in ex-pump prices. Minority Spokesperson on Mines and Energy, Mr Adam Mutawakilu, said the increase in the in Bulk Oil Storage and Transportation Company Limited margin from 3pessewas to 6pessewas is badly timed and unnecessary. Mr Mutawakilu told the Daily Graphic newspaper that BOST has been unable to account for the previous 3pesewas that was charged on a litre of petroleum products. Meanwhile, the Association of Oil Marketing Companies (OMC) has said that by Friday, June 5, 2020, its members will increase petroleum prices by a minimum of 14 per cent. He added that petroleum prices are also being controlled due to competition among the 116 OMCs operating in the country, which are mindful of the decrease in volumes anytime there is a price increase.

Source: GhanaWeb June 06, 2020 00:45 UTC