{"id":303232,"date":"2017-03-20T15:17:19","date_gmt":"2017-03-20T15:17:19","guid":{"rendered":"http:\/\/citifmonline.com\/?p=303232"},"modified":"2017-03-20T15:17:19","modified_gmt":"2017-03-20T15:17:19","slug":"omcs-reduce-prices-to-reflect-tax-cuts","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2017\/03\/omcs-reduce-prices-to-reflect-tax-cuts\/","title":{"rendered":"OMCs reduce prices to reflect tax cuts"},"content":{"rendered":"

Citi Business News\u2019<\/strong> checks at fuel stations have revealed that major Oil Marketing Companies (OMCs) have reduced the prices of their products for the second consecutive time this month; March.<\/p>\n

[contextly_sidebar id=”0dR4E3kPO3kun4ab7t48zUzJsjclJC7Q”]The reduction is in line with the recent tax cuts announced by the government in the 2017 budget.<\/p>\n

The OMCs earlier in the second pricing window of March reduced the prices of their products between 1 and 3 percent.<\/p>\n

The reductions in prices have been necessitated by a directive from the National Petroleum Authority asking the various Oil Marketing Companies to adjust their prices to reflect the tax cuts<\/a><\/strong> <\/span>effective Thursday, March 16, 2017.<\/p>\n

Per the directive, the OMCs are supposed to reduce their price build up formula to reflect the 2.5 percent reduction in the Special Petroleum Tax rate from 17.5 to 15 percent and the scrapping of the Excise (Petroleum Taxes and Petroleum Related Levies).<\/p>\n

At total for instance, a litre of petrol has dropped from 4 cedis 39 pesewas to 4 cedis 19 pesewas.<\/p>\n

Also, a litre of diesel has dropped from 4 cedis 25 pesewas to 4 cedis 15 pesewas.<\/p>\n

This represents a reduction of 4.5 and 2.4 percent respectively.<\/p>\n

Goil has reduced the price of a litre of petrol from 4 cedis 26 pesewas to 4 cedis 18 pesewas while a litre of diesel has dropped from 4 cedis 22 pesewas to 4 cedis 17 pesewas.<\/p>\n

At Shell, however, a litre of petrol has declined from 4 cedis 31 pesewas to 4 cedis 18 pesewas with a litre of diesel dropping from 4 cedis 26 pesewas to 4 cedis 17 pesewas.<\/p>\n

Meanwhile checks at Engen Oil and Champion Oil have revealed that prices have dropped between 1 and 3 percent.<\/p>\n

Champion Oil is selling a litre each of petrol and diesel at 4 cedis 25 pesewas and 4 cedis 20 pesewas respectively.<\/p>\n

Also, Engen Oil is selling a litre each of petrol and diesel at 4 cedis 17 pesewas.<\/p>\n

–<\/p>\n

By: Pius Amihere Eduku\/citibusinessnews.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"

Citi Business News\u2019 checks at fuel stations have revealed that major Oil Marketing Companies (OMCs) have reduced the prices of their products for the second consecutive time this month; March. [contextly_sidebar id=”0dR4E3kPO3kun4ab7t48zUzJsjclJC7Q”]The reduction is in line with the recent tax cuts announced by the government in the 2017 budget. The OMCs earlier in the second […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,171,11],"tags":[],"yoast_head":"\nOMCs reduce prices to reflect tax cuts - Citi 97.3 FM - Relevant Radio. Always<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/citifmonline.com\/2017\/03\/omcs-reduce-prices-to-reflect-tax-cuts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OMCs reduce prices to reflect tax cuts - Citi 97.3 FM - Relevant Radio. Always\" \/>\n<meta property=\"og:description\" content=\"Citi Business News\u2019 checks at fuel stations have revealed that major Oil Marketing Companies (OMCs) have reduced the prices of their products for the second consecutive time this month; March. [contextly_sidebar id=”0dR4E3kPO3kun4ab7t48zUzJsjclJC7Q”]The reduction is in line with the recent tax cuts announced by the government in the 2017 budget. The OMCs earlier in the second […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/citifmonline.com\/2017\/03\/omcs-reduce-prices-to-reflect-tax-cuts\/\" \/>\n<meta property=\"og:site_name\" content=\"Citi 97.3 FM - Relevant Radio. Always\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/citi97.3\" \/>\n<meta property=\"article:published_time\" content=\"2017-03-20T15:17:19+00:00\" \/>\n<meta name=\"author\" content=\"Kojo Akoto Boateng\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@citi973\" \/>\n<meta name=\"twitter:site\" content=\"@citi973\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kojo Akoto Boateng\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/citifmonline.com\/2017\/03\/omcs-reduce-prices-to-reflect-tax-cuts\/\",\"url\":\"https:\/\/citifmonline.com\/2017\/03\/omcs-reduce-prices-to-reflect-tax-cuts\/\",\"name\":\"OMCs reduce prices to reflect tax cuts - Citi 97.3 FM - Relevant Radio. Always\",\"isPartOf\":{\"@id\":\"https:\/\/citifmonline.com\/#website\"},\"datePublished\":\"2017-03-20T15:17:19+00:00\",\"dateModified\":\"2017-03-20T15:17:19+00:00\",\"author\":{\"@id\":\"https:\/\/citifmonline.com\/#\/schema\/person\/1642ef473fe39bf0c4e2f2f252678eb1\"},\"breadcrumb\":{\"@id\":\"https:\/\/citifmonline.com\/2017\/03\/omcs-reduce-prices-to-reflect-tax-cuts\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/citifmonline.com\/2017\/03\/omcs-reduce-prices-to-reflect-tax-cuts\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/citifmonline.com\/2017\/03\/omcs-reduce-prices-to-reflect-tax-cuts\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/citifmonline.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"OMCs reduce prices to reflect tax cuts\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/citifmonline.com\/#website\",\"url\":\"https:\/\/citifmonline.com\/\",\"name\":\"Citi 97.3 FM - Relevant Radio. Always\",\"description\":\"Ghana News | Ghana Politics | Ghana Soccer | Ghana Showbiz\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/citifmonline.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/citifmonline.com\/#\/schema\/person\/1642ef473fe39bf0c4e2f2f252678eb1\",\"name\":\"Kojo Akoto Boateng\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/citifmonline.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/ba51f5385119e83762c67ecd6aa410ab?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/ba51f5385119e83762c67ecd6aa410ab?s=96&d=mm&r=g\",\"caption\":\"Kojo Akoto Boateng\"},\"url\":\"https:\/\/citifmonline.com\/author\/kojo\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"OMCs reduce prices to reflect tax cuts - Citi 97.3 FM - Relevant Radio. Always","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/citifmonline.com\/2017\/03\/omcs-reduce-prices-to-reflect-tax-cuts\/","og_locale":"en_US","og_type":"article","og_title":"OMCs reduce prices to reflect tax cuts - Citi 97.3 FM - Relevant Radio. Always","og_description":"Citi Business News\u2019 checks at fuel stations have revealed that major Oil Marketing Companies (OMCs) have reduced the prices of their products for the second consecutive time this month; March. [contextly_sidebar id=”0dR4E3kPO3kun4ab7t48zUzJsjclJC7Q”]The reduction is in line with the recent tax cuts announced by the government in the 2017 budget. The OMCs earlier in the second […]","og_url":"https:\/\/citifmonline.com\/2017\/03\/omcs-reduce-prices-to-reflect-tax-cuts\/","og_site_name":"Citi 97.3 FM - Relevant Radio. Always","article_publisher":"https:\/\/www.facebook.com\/citi97.3","article_published_time":"2017-03-20T15:17:19+00:00","author":"Kojo Akoto Boateng","twitter_card":"summary_large_image","twitter_creator":"@citi973","twitter_site":"@citi973","twitter_misc":{"Written by":"Kojo Akoto Boateng","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/citifmonline.com\/2017\/03\/omcs-reduce-prices-to-reflect-tax-cuts\/","url":"https:\/\/citifmonline.com\/2017\/03\/omcs-reduce-prices-to-reflect-tax-cuts\/","name":"OMCs reduce prices to reflect tax cuts - Citi 97.3 FM - Relevant Radio. Always","isPartOf":{"@id":"https:\/\/citifmonline.com\/#website"},"datePublished":"2017-03-20T15:17:19+00:00","dateModified":"2017-03-20T15:17:19+00:00","author":{"@id":"https:\/\/citifmonline.com\/#\/schema\/person\/1642ef473fe39bf0c4e2f2f252678eb1"},"breadcrumb":{"@id":"https:\/\/citifmonline.com\/2017\/03\/omcs-reduce-prices-to-reflect-tax-cuts\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/citifmonline.com\/2017\/03\/omcs-reduce-prices-to-reflect-tax-cuts\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/citifmonline.com\/2017\/03\/omcs-reduce-prices-to-reflect-tax-cuts\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/citifmonline.com\/"},{"@type":"ListItem","position":2,"name":"OMCs reduce prices to reflect tax cuts"}]},{"@type":"WebSite","@id":"https:\/\/citifmonline.com\/#website","url":"https:\/\/citifmonline.com\/","name":"Citi 97.3 FM - Relevant Radio. Always","description":"Ghana News | Ghana Politics | Ghana Soccer | Ghana Showbiz","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/citifmonline.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/citifmonline.com\/#\/schema\/person\/1642ef473fe39bf0c4e2f2f252678eb1","name":"Kojo Akoto Boateng","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/citifmonline.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/ba51f5385119e83762c67ecd6aa410ab?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ba51f5385119e83762c67ecd6aa410ab?s=96&d=mm&r=g","caption":"Kojo Akoto Boateng"},"url":"https:\/\/citifmonline.com\/author\/kojo\/"}]}},"_links":{"self":[{"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/posts\/303232"}],"collection":[{"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/comments?post=303232"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/posts\/303232\/revisions"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/media?parent=303232"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/categories?post=303232"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/tags?post=303232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}