Ghana: COPEC refutes allegations of bias against NPA over price floor policy

The Executive Secretary of the Chamber of Petroleum Consumers (COPEC), Duncan Amoah, has refuted claims that the group is working against the National Petroleum Authority (NPA) over the price floor policy.

In a detailed statement, Amoah said COPEC’s position has always been to protect consumer interests, noting that the introduction of the price floor in 2024 has neither curbed the influx of substandard fuel nor improved market competitiveness.

He emphasized that COPEC operates independently of any oil marketing companies and remains committed to constructive engagement with the NPA.

Below is the full  statement:

Dear Kevin Ekow Taylor,

Bro., my attention was brought to a broadcast yesterday, 2 February 2026.

In the said broadcast, I am accused of working for some OMCs against the NPA on this price floor issue.

Here are the facts, bro:

Ghana, since 1st July, entered into the final phase of petroleum downstream deregulation, which then gave the rights to set prices of petroleum products to the BDCs and the OMCs. The then government in 2015 believed this was the right step to save the Ghanaian economy from needless debts arising from fuel subsidies.

Following this price deregulation programme, the OMCs started working on their individual prices every fortnight to mitigate or accommodate any price changes.

This led to price wars, shadow or scheme pricing, and sometimes overpricing by some OMCs who felt the consumer was stuck to their brands.

Over the next nine years (2015–2024), the market adjusted every two weeks, with some players always keeping lower prices to attract more patronage, while others maintained what is termed normal pricing.

Most Ghanaian petroleum consumers made buying decisions reflecting their desire for efficient pricing, which allowed some then minor OMCs to grow in market share and now command significant volumes.

A section of the market in May 2024 requested the intervention of the NPA on pricing by setting a price floor, claiming that some of the “smaller” OMCs were engaged in predatory pricing and possibly selling substandard products.

Our initial reaction to this proposition was absolute rejection, as it would not serve the consumer and would not be effective in addressing the influx of bad or substandard products.

Our position over the course of two years has been proven correct: the introduction of a price floor has neither curtailed the influx of bad products nor helped consumers make better pricing decisions, especially as some OMCs have repeatedly sold below the NPA’s indicated price floor.

Petroleum products, unlike gold or other easily smuggled commodities, are easy to track and trace. Therefore, the solution to bad products entering the market lies in strict security controls, compliance by players, and random audits of recorded volumes to identify sources.

Failure to control the influx of bad products should not result in enforcing a price floor while bad products continue to circulate in the market.

Since its introduction in 2024, the price floor has neither solved the problem of substandard products nor made fuel markets more competitive than before.

COPEC’s position on this matter since 2024 has been consistent. We speak without malice, ill will, or personal dislike, advocating solely for the benefit of ordinary Ghanaians who stand to gain from efficient pricing without unnecessary intervention by the regulator.

COPEC is not funded by any OMC and cannot be sent on any mission by any OMC regarding matters that affect some of our largest stakeholders, including the GPRTU.

I, Duncan Amoah, Executive Secretary of COPEC, bear no hatred nor animosity toward any current occupant of the NPA seat, nor toward the previous occupant who introduced the price floor, except to disagree with the programme itself.

Our position has always been for the benefit of the consumer, as our full name suggests, and it will never be our duty to protect any other interests than those of the collective.

The success of the current government is the success of all Ghanaians. We can only contribute by providing constructive critique when necessary, not out of personal like or dislike for any individual.

COPEC Ghana, together with the Consumer Protection Agency, has in the past sued the NPA over some policies, including the introduction of a gas levy. We did so without personal animosity, and criticism of the current leadership should not be viewed otherwise.

To conclude, I assure you and everyone else of my full cooperation with my friend and brother, Edudzi Tamakloe (CEO, NPA), in working harder than ever to shape and continuously improve the petroleum downstream sector for the collective benefit of every average Ghanaian.

Thank you.

Duncan Amoah
Executive Secretary
(COPEC)