The National Petroleum Authority (NPA) has backtracked on its decision to increase the Fuel Marking Margin (FMM) from 4 pesewas to 9 pesewas.
The NPA had earlier directed all Oil Marketing Companies (OMC) to implement the new rates and apply them in their Price Build-Ups (PBUS) from April 16, 2023.
However, in a recent statement, the regulator has withdrawn the increment, stating that the FMM will remain at 4 pesewas per liter until further notice.
The NPA expressed regrets for any inconvenience caused by the earlier directive.
This reversal by the NPA comes as a relief to many Ghanaians, as an increase in the FMM would have led to an upward adjustment of fuel prices at the pumps.