The President of the Ghana Chamber of Bulk Oil Distributors (CBOD), Senyo Hosi has said the increase in the prices of petroleum products at the pump is not a way to mark up profits of the BDCs as speculated by the public.
He explained that the situation happening at the pump is rather a reflection of the impact which the introduction of the new taxes have had on the ex-pump price.
The latest price hike of petroleum products at the pump has been greeted with hue and cry from the public, especially drivers who lament that the current increase will affect their business.
But Senyo Hosi reacting to the issues said the situation being experienced at the pump is not a function of the BDCs seeking to make profit, insisting that the they[BDCs] have even reduced their prices in the last few weeks in tandem with the world market trends.
“We respond to the world mark.The situation you have at the pump is just a reflection of the impact that the new taxes have had on the X-Pump price. The taxes are quite a number…so it has some extra impact.” he said in an interview with Accra-based Citi FM.