Analyst Criticises Regulation Of Petroleum Sector Following Recent Fuel Price Increases

• The Centre for Environmental Management and Sustainable Energy director has criticised the regulation of fuel prices
• Nsiah said the National Petroleum Authority needed to do better with regulating the petroleum industry
• Edudzi Tameklo, Acting CEO of the National Petroleum Authority assured consumers that measures are being implemented to stabilize fuel prices

The Centre for Environmental Management and Sustainable Energy director, Benjamin Nsiah, has criticised the regulation of fuel prices after the current window saw multiple price increases.

While the depreciation of the cedi and increases in global oil prices have caused an expected increase in fuel prices, Nsiah said the National Petroleum Authority needed to do better with enforcing laws.

The authority has partially deregulated the downstream petroleum industry. This prompted concerns that Nsiah voiced to YEN.com.gh.

“Why should there be changes in prices in the same window. If they are going to set a price, that is the price they must stick to through the window?”

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“The National Petroleum Authority has relaxed its responsibility with respect to enforcement in the downstream petroleum sector.”

The CEO of the National Petroleum Authority, Edudzi Tamakloe earlier assured consumers that measures are being implemented to stabilise fuel prices and mitigate the impact of future fluctuations.

With US President Donald Trump sparking a potential tariff war, Nsiah noted that effects on fuel prices will be limited in the short term.

“Even if there are trade wars, the effects will be felt in the coming months, not days be cause those products have not been imported into the country yet.”

Some Oil Marketing Companies began marginally increasing fuel prices after the second pricing window of January.

Mahama government considers ECG privatisation

YEN.com.gh reported that the new government is considering privatising the Electricity Company of Ghana to address current inefficiencies in power distribution.

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Mahama expressed these thoughts in a meeting with a World Bank delegation on January 8, 2025.

A previous attempt to privatise the Electricity Company of Ghana was made in 2019, with Power Distribution Services expected to manage the country's power distribution.

However, that agreement was terminated and described as fraudulent.

Source: YEN.com.gh