AOMC clarifies purported removal of price stabilization & recovery Levy on Petrol, diesel

Association of Oil Marketing Companies (AOMC) has clarified purported removal of price stabilization, recovery Levy on Petrol and diesel.

A statement signed and issued CEO/Industry Coordinator of AOMC Kwaku Agyemang-Duah on Friday 15 October 2021 said “The current pricing window ends today Friday, 15th October 2021. The second window of the month starts on Saturday, 16th October 2021. Per the AOMC Market Research Index, below are the expected range of ex-pump prices in the second window starting from Saturday 16th October 2021″.

According to the AOMC, “Range of Ex-Pumpprices per litre (Including Current Price Stabilisation and Recovery Levy, PSRL)
Petrol = 6.88 Ghs – 7.11 Ghs
Diesel = 6.82 Ghs – 7. 05 Ghs
Range of Ex-Pump prices per litre (Excluding the Price Stabilisation and Recovery Levy, PSRL)
Petrol = 6.72 Ghs – 6.95 Ghs
Diesel = 6.68 Ghs – 6.91 Ghs”.

Below is the full statement

CLARITY ON PURPORTED REMOVAL OF THE PRICE STABILISATION AND RECOVERY LEVY ON PETROL AND DIESEL – THE AOMC VIEW
Our attention has been drawn to some publications purporting that the two-month removal of the price stabilisation and recovery levy would lead to a reduction in fuel prices in the next pricing window. The Association of Oil Marketing Companies (AOMC) would like to react as follows:
The current pricing window ends today Friday, 15th October 2021. The second window of the month starts on Saturday, 16th October 2021.
Per the AOMC Market Research Index, below are the expected range of ex-pump prices in the second window starting from Saturday 16th October 2021.

Range of Ex-Pump prices per litre (Including Current Price Stabilisation and Recovery Levy, PSRL)
Petrol = 6.88 Ghs – 7.11 Ghs
Diesel = 6.82 Ghs – 7. 05 Ghs
Range of Ex-Pump prices per litre (Excluding the Price Stabilisation and Recovery Levy, PSRL)
Petrol = 6.72 Ghs – 6.95 Ghs
Diesel = 6.68 Ghs – 6.91 Ghs.

The public should be reminded that prices of petroleum products are computed by each OMC independently and submitted to the Regulator, as a compliance to the Price Build-Up formula.
Furthermore, we would like to assure our cherished consumers that we will not do anything to compromise the quality and quantity of products dispensed at the pump or short-change them, to supposedly make abnormal profits which invariably do not exist, but we have to fully recover our cost.
The purported removal of the Price Stabilization and Recovery Levy (PSRL) would take effect only after a formal and written communication from the National Petroleum Authority (NPA) to the Petroleum Downstream Industry, duly signed by the Chief Executive.

We will continue to serve you better. Thank you.
……………………
Kwaku Agyemang-Duah
CEO/Industry Coordinator

Source: africaneditors.com