{"id":77039,"date":"2014-12-24T13:11:55","date_gmt":"2014-12-24T13:11:55","guid":{"rendered":"http:\/\/4cd.e16.myftpupload.com\/?p=77039"},"modified":"2014-12-24T13:11:55","modified_gmt":"2014-12-24T13:11:55","slug":"consumer-groups-demand-reduction-fuel-prices","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2014\/12\/consumer-groups-demand-reduction-fuel-prices\/","title":{"rendered":"Consumer groups demand reduction in fuel prices"},"content":{"rendered":"<p>Some consumer groups have joined calls for the National Petroleum Authority (NPA) to immediately reduce prices of petroleum products.<\/p>\n<p>This comes a few days after the Trades Union Congress (TUC) made similar demands.<\/p>\n<p>The price of crude oil on the world market has hit a five-year low; currently selling at around 60 dollars per barrel.<\/p>\n<p>But importers of crude, Bulk Oil Distribution Companies (BDCs) have warned government not to succumb to mounting pressure for fuel prices to be reduced.<\/p>\n<p>Speaking to Citi Business News the representative of the Consumer Action Front Dauda, Mohammed Suru said the NPA must respect the Automatic Adjustment Formula used in determining fuel prices.<\/p>\n<p>&#8220;It is very unfortunate and disappointing that people who should be giving us leadership and direction will vary their policy as and when they think it suits them&#8221;, he stressed.<\/p>\n<p>The Consumer Protection Agency (CPA) is also calling on the National Petroleum Authority to account for the monies so far accrued due to delay in the reduction of petroleum products.<\/p>\n<p>According to the NPA, the refusal to reduce petroleum prices will afford government the opportunity to pay outstanding debts owed the Bulk Oil Distribution Companies (BDCs).<\/p>\n<p>According to Head of Consumer Protection Agency (CPA), Kofi Kapito there is the need for transparency.<\/p>\n<p>He said,&#8221; even if we are going to be paying this , how long is it going to take for us to be able to clear that old debt&#8230;but i also support the call that it should be reduced&#8221;.<\/p>\n<p>By: Rabiu Alhassan\/citifmonline.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Some consumer groups have joined calls for the National Petroleum Authority (NPA) to immediately reduce prices of petroleum products. This comes a few days after the Trades Union Congress (TUC) made similar demands. The price of crude oil on the world market has hit a five-year low; currently selling at around 60 dollars per barrel. [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":3058,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[22,4],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Consumer groups demand reduction in fuel prices       - Citi 97.3 FM - Relevant Radio. 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