The National Petroleum Authority (NPA) has announced the reversal of its earlier decision to increase the Fuel Marking Margin (FMM) from 4 pesewas to 9 pesewas.
In an earlier notice, it had directed all Oil Marketing Companies (OMC) to implement the new rates and apply them in their Price Build-Ups (PBUS) starting April 16, 2023.
But in a rejoinder statement on April 15, 2023, the NPA said the margin will remain at 4 pesewas per liter until further notice.
The reversal will however come as a sigh of relief since this will not have an effect on the prices of fuel at the pumps.
John Abdulai Jinapor, Member of Parliament for Yapei Kusawgu, has revealed that the Fuel Marking Margin (FMM) has been increased as of April 14, 2023.
In an April 14 post on his official Facebook timeline, he wrote: "The National Petroleum Authority has just increased 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 rigs.
According to the NPA, "fuel marking margin" means a margin incorporated into the. 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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