Michael Bozumbil
Some Oil Market Companies (OMCs) say they will reduce the prices of fuel at the pumps if the cedi continues to show signs of stability.
This comes after the Institute for Energy Security projected stability in the prices of petroleum products in the second-pricing window of the month of August due to the combined effects of the slowed depreciation of the local currency and the international market activities.
Speaking to Joy Business at the 10th Anniversary of Petrosol Platinum Energy Limited, Chief Executive Officer, Michael Bozumbil dispelled claims of OMCs shortchanging consumers.
"Anytime we assess the numbers and we see we can give discounts to consumers, we readily do that. When the cedi is stable we are always ready to reduce the price and Petrosol is always doing that", he said.
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