The Chamber of Oil Marketing Companies (COMAC) has begun investigations into data released by some members on petroleum consumption across the country in the first half of the year.
According to the Chamber, these companies have reported significant volume growth, especially in the Upper East and Upper West regions, a situation very alarming.
This is because the industry projection for the average demand for 2025 in these regions is below the current figures reported in the release by the National Petroleum Authority.
The Chief Executive of the Chamber, Dr. Riverson Oppong, disclosed to journalists at a press briefing in Accra, saying these numbers may have been manipulated to gain more from the Unified Petroleum Pricing Fund (UPPF), which is managed by the National Petroleum Authority.
Data for the half-year 2025 indicates that the Upper East region recorded the highest growth at 80.23%, followed by the Ashanti region with a 22.20% increase.
The Upper West and Eastern regions also experienced substantial gains.
No decline was recorded in the first half of 2025, unlike the 3.85% decrease experienced by the Volta region during the same period in 2024.
According to the Chamber of Oil Marketing Companies, this cannot be a true reflection of the situation on the ground.
To this end, the Chamber has written to the two Oil Marketing Companies, Moari Oil and Yass Petroleum to submit their data for scrutiny and further investigation.
“Indirectly, we’re telling you that there are concerns with some of the figures that our outlook projected and therefore we’re seeking engagement with the regulator, National Petroleum Authority. We’re also seeking engagement with our members involved in both LPG and oil marketing companies because charity begins at home, “Dr. Riverson Oppong said.
The Board Chairman of the Chamber, Gabriel Kumi, wants a total scrap of the Unified Petroleum Pricing Fund, which is paid by consumers on every litre of fuel purchased.
He expressed concern that the fund is being abused by some member associations, hence the need for it to be removed from the petroleum price buildup.
The Unified Petroleum Pricing Fund has been introduced to support the transportation of petroleum products to other parts of the country without price changes.
- President Commissions 36.5 Million Dollars Hospital In The Tain District
- You Will Not Go Free For Killing An Hard Working MP – Akufo-Addo To MP’s Killer
- I Will Lead You To Victory – Ato Forson Assures NDC Supporters
Visit Our Social Media for More
About Author
