Fuel Prices: Upward review of UPPF, Fuel Marking Margins take effect on Tuesday - NPA

The National Petroleum Authority (NPA) has announced that effective Tuesday, May 16, there will be an upward review of the Unified Petroleum Price Fund (UPPF) and Fuel Marking Margins in the Price Build-Up.

Per the review, NPA increases UPPF by 28pesewas and Fuel Marking Margin by 5pesewas per litre or kilogram of petrol, diesel, Kerosene/Mines, LPG, MGO local, premix fuel MGO foreign, Gasoil Mines and Gasoline Rig.

In a press release copied to ModernGhana News dated Monday, May 15, the NPA explained that the upward review is necessary to ensure that, the freight rates for the transportation of petroleum products to the various retail outlets in the country reflect the current economic conditions.

“The National Petroleum Authority (NPA) wishes to advise the industry of a revision of the Unified Petroleum Price Fund (UPPF) and Fuel Marking Margins in the Price Build-Up effective 16th May 2023.

“Kindly note that the upward review of the UPPF is necessary to ensure that, the freight rates for transportation of petroleum products to the various retail outlets in the country reflect the current economic conditions while that of the Fuel Marking Margin is necessary to guarantee the quality of fuel consumed in the country as well as ensure the sustainability of the programme,” parts of the release from the NPA said.

All Oil Marketing Companies (OMCs) and Liquefied Petroleum Gas Marketing Companies (LPGMCs) are to take note of the review of the UPPF and the Fuel Marking Margins and apply them in their Price Build-Up from tomorrow.

Check out the review from the press release below: