Fuel price hikes affecting us too – OMCs lament

Oil Marketing Companies (OMCs) say the increase in prices of petroleum products is affecting their business operations.

According to them, the situation has led to a decline in sales.

Prices of petroleum products have gone up by about 27 percent effective January 1 this year.

Speaking on Citi FM’s News analysis programme on Saturday, The Big Issue, the Industrial Coordinator of the Oil Marketing Companies, Kwaku Agyemang Duah said though the OMCs have increased their prices, they are equally bearing the impact of the decision.

Mr. Agyemang Duah explained that such trends occur because “supply is also weakened” so consumers get along “about two or three weeks when it becomes relevant for them and they realize that we have to live with it.”

He also lamented challenges they are having in distributing LPG across the nation.

“…We have some issue with our LPG people for instance, this is the first time they are going to pay for the levy…so in that area we are trying to work out,” he added.

Source: citifmonline.com