NPA increases margin on UPPF; fuel prices expected to go up

The National Petroleum Authority (NPA) has ordered industry players to increase the Unified Petroleum Price Fund (UPPF) margin, effective June 1, 2024.

This directive, contained in a May 30 circular, will likely lead to higher petroleum prices.

The margin increase, ranging from GH₵0.05 to GH₵0.90 for diesel and petrol, aims to ensure sustainable fund distribution.

The price hike may be higher than expected, depending on whether oil marketing companies absorb or pass on the costs to consumers.