COPEC accuses OMCs of shortchanging consumers for not implementing full cuts in fuel prices

The Chamber of Petroleum Consumers (COPEC) has accused Oil Marketing Companies (OMCs) of deliberately shortchanging consumers by not fully implementing mandated fuel price reductions.

Petrol, diesel, and LPG prices were expected to drop by 4.5%, 3.8%, and 3.9%, respectively, by March 16, 2025. However, COPEC reports that reductions have been minimal, with the highest recorded cut at only 2.2%.

COPEC’s Executive Secretary, Duncan Amoah, criticized OMCs for delaying price cuts despite benefiting from lower global benchmarks. He called on regulators to enforce compliance to prevent unnecessary consumer hardship.

Dissatisfied motorists and commercial riders also voiced frustration, complaining that promised reductions have not materialized at the pumps, making little difference to their expenses.