National Petroleum Authority Increases Fuel Marking Margin Prices On All Products -Check Out The Price Increment
Fuel Marking Margin (FMM) has been raised as of April 14, 2023, according to John Abdulai Jinapor, member of parliament for Yapei Kusawgu.
He stated: “The National Petroleum Authority has just increased the Fuel Marking Margin by a whopping 125%,” in a post on his official Facebook timeline from April 14.
“Expect this to impact the price of fuel at the pump. The Akuffo-Addo/Bawumiah led government has completely lost it.”
His letter from the NPA, which said that the Governing Board had approved the increase of the FMM from 4 to 9 pesewas per liter to be applied in the Price Build-Up (PBU), was included with his post.
The rule is anticipated to go into effect on April 16 and will apply to all petroleum products, including gasoline, diesel, kerosene, kerosene mines, premix fuel, MGO abroad, gas oil mines, and gas oil rig.
The NPA defines “fuel marking margin” as a margin included into the development of petroleum prices to cover the cost of marking petroleum goods in order to prevent the loss of tax income, smuggling, and adulteration of petroleum products.
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