Ghana government suspends subsidy on residual fuel oil

The Ghana government Tuesday announced the removal of subsidy on Residual Fuel Oil (RFO) until further notice.

The move is an interim measure to ease the financial burden on the Price Stabilisation and Recovery Account (PSRA).

A statement issued by the National Petroleum Authority said the directive considered the growing concern about the sustainability of the Account to meet under-recovery payment obligations for Premix Fuel and RFO.

It urged all stakeholders to be guided accordingly.

Source: GNA