The National Petroleum Authority (NPA) has announced a 25 per cent reduction in aviation fuel known as Aviation Turbine Kerosene (ATK).
The announcement follows President Mahama’s announcement on Monday, that the price of the fuel would go down by 20 per cent, as part of measures, to attract more airlines and reduce aviation fares, as part of efforts to make Ghana an aviation hub in West Africa.
“The NPA after a detailed analysis, announced a 25 per cent reduction in the price of aviation fuel effective Wednesday, August 3, 2016,” said a statement from the Authority, and signed by its Chief Executive Officer, Moses Asaga.
“This reduction is expected to make Ghana more competitive and the country with the second lowest priced aviation fuel in the West African sub-region,” it said.
In effect, the ex-deposit price of the fuel has been reduced from 62.5 US cents per litre to 46 cents per litre.
The NPA was “hopeful that the airlines will let this reduction reflect in airfares especially domestic airfares which has seen increment in recent times.”
By Times Reporter