The Minority in Parliament is requesting that three levies on petroleum items be repealed immediately in order to protect Ghanaians from rising crude oil costs on the international market.
Consumers are currently paying more than 8 cedis for petrol and diesel at the pumps. As a result of the change, transportation fares have increased by 15%.
Edward Bawa, MP for Bongo and a Minority member of the Mines and Energy Committee, told the press in Parliament that if immediate steps are not taken to remove taxes such as the Energy Sector Levy, Sanitation and Pollution Levy, and Special Petroleum Levy from the price build-up, the price per litre of fuel could reach GH9.
It is very true that if you look at the price of crude, it is skyrocketing, so it means it is a key factor. However, the price of crude is not the only factor affecting our prices. The other two are monetary policy, taxes and levies, and statutory margins that are put on petroleum products. They are the three main factors that affect petroleum products. The government has control over the taxes… So the government can take that off. ”
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Fuel prices at some fuel stations have crossed the GH¢8 per litre mark in the first week of March 2022 with predictions that the commodity will sell at GH¢9.00 per litre by close of the month.
The National Petroleum Authority (NPA) has already said discussions are ongoing with the Ministries of Finance and Energy to find a manageable solution to the persistent rise in fuel prices.
It said the deliberations will focus largely on the possible removal of some taxes on petroleum products.
“We are also concerned, there are a lot of discussions we are having with the Ministry of Energy, and we are seeing if together with the Ministry of Finance, we will make some proposals,” Head of Pricing at the NPA, Abass Ibrahim Tasunti earlier said.
