Fuel Marking Margin up by 125% - Jinapor warns of impact on fuel prices
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John Abdulai Jinapor, Member of Parliament for Yapei Kusawgu has revealed that Fuel Marking Margin (FMM) has been increased as at April 14, 2023.
Read full articleIn an April 14 post on his official Facebook timeline, he wrote: "The National Petroleum Authority has just increaesd the Fuel Marking Margin by a whopping 125%.
"Expect this to impact the price of fuel at the pump. The Akuffo-Addo/Bawumiah led government has completely lost it."
His post was accompanied by a letter from the NPA in which the Governing Board is said to have approved the increase of the FMM from 4 to 9 pesewas per liter to be implemented in the Price Build-Up (PBU).
The measure is expected to take place effective April 16 and it will affect all products from petrol, diesel, kerosene, kerosene mines, MGO local, premix fuel, MGO foreign, Gasoil Mines and Gasoil rig.
According to the NPA, "fuel marking margin" means a margin incorporated into the. buildup of petroleum prices to pay for the marking of petroleum products to prevent tax revenue loss, smuggling and adulteration of petroleum products.
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