Starting from today June 1, 2020. The prices of transportation fare is set to be increased , as all petroleum products see an instant increment In prices .
This development as follows an increment in the BOST Margin by Cabinet which was announced by the National Petroleum Authority (NPA) over the weekend.
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The BOST Margin has been increased from 3 pesewas to 6 pesewas for a litre of petroleum product.
Meanwhile, the Executive Secretary of the Chamber of Petroleum Consumers (COPEC), Duncan Amoah says fuel prices at the pumps will go up by between five and eight percent.
“Consumers will most likely have to pay more for fuel because world market prices, crude alone has done about 40%. With finished products such as gasoline, gas oil has also seen a sharp jump on the international market. It is quite certain that we will be doing between 5% and 8% [increase in fuel prices],” he said in an interview.