NPA removes levies on petrol, LPG & diesel for two months to reduce prices

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Pulse-gh Oct. 11, 2021 11:37 a.m.

NPA removes levies on petrol, LPG & diesel for two months to reduce prices

“At this time it is important that the PSRL which is currently sixteen pesewas per litre (GHp16/Lt) on petrol, fourteen pesewas per litre (GHp14/Lt) on diesel, and fourteen pesewas per kilogram (GHp14/Kg) on LPG are zeroed to cushion,” the NPA said in a statement.” Fuel prices have increased sharply at the pumps in Ghana in the last few weeks with a litre of petrol selling at Ghc6.520.

The NPA in a statement said President Akufo-Addo gave the approval for zero Price Stabilisation and Recovery Levies following the advice of the NPA to seek government’s intervention to mitigate the impact of rising prices of petroleum products on the world market on consumers.

Because the pricing of petroleum products in Ghana is deregulated, changes in prices of petroleum products on the world market have a direct impact on prices at the pumps.

The outlook of prices on the global market shows an upward trend and therefore there was the need to seek government’s intervention to lower the levies to cushion consumers from feeling the full impact of these rising prices..

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