A National Executive Committee (NEC) member of the National Democratic Congress (NDC), Wonder Victor Kutor, has appealed to the government to retain the fuel price floor policy, describing it as essential for maintaining stability in Ghana’s petroleum market.
Speaking on Channel One TV’s Breakfast Daily on Thursday, January 22, Mr Kutor said the government, acting through the National Petroleum Authority (NPA), must ensure the policy remains in force to guide the operations of Oil Marketing Companies (OMCs) while safeguarding consumers over the long term.
He cautioned against leaving fuel pricing entirely to market forces, stressing that the state has a responsibility to regulate the sector in the broader public interest.
According to Mr Kutor, although the price floor policy may initially appear unfavourable to consumers—especially when some OMCs claim they can sell fuel at lower prices—it plays a crucial role in preventing future price manipulation.
He warned that short-term price reductions by dominant players could later translate into higher fuel prices, ultimately hurting consumers.
“Today, it may appear that consumers are benefiting because Star Oil says they can sell at a lower price, but what about tomorrow?” he questioned.
“If Star Oil decides to sell at a higher price, the same consumers will turn to the government, which is why a floor price is needed to maintain stability in the market.”
Mr Kutor’s comments come against the backdrop of growing calls by Star Oil for the removal of the fuel price floor. The company has proposed selling petrol at GH¢9.50 per litre between 10:00 p.m. and 4:00 a.m., a move it says is aimed at supporting Ghana’s night-time economy.
Despite these proposals, Mr Kutor insists that maintaining the price floor remains the most reliable way to ensure fairness, market stability, and long-term consumer protection within the petroleum sector.
