After the government proposed a 5.7 per cent increment in prices of petrol and diesel as part of new levies it is imposing, there has being a lot of reactions from Ghanaians.
Following this implementation of the newly reviewed taxes on fuel, the margin on prices of petroleum products per litre went up by 17 pesewas.
Meanwhile the National Petroleum Authority (NPA) had heard the cry of Ghanaians and reduced the margin on the price of fuel by 8 pesewas per litre. This means that the price per litre recently should be 9 pesewas.
This initiative obviously a prove of an ease for Ghanaians in our economic sector as the increase in Petroleum equally affects all aspects of the economic dimension of the country.
Meanwhile this initiative is set to take effect on Wednesday, May 5, 2021.
Fuel prices in the country have consistently seen a steady increase since the beginning of the year, sparking fears that consumers may end the year paying an all-time high rate per litre.
Meanwhile the 2021 budget introduced a new 10 pesewas Sanitation and Pollution Levy as well as a 20 pesewa levy to cater for charges on the country’s excess power capacity subject to parliamentary approval.
The Chamber of Petroleum Consumers (COPEC) has indicated that the percentage change in prices within the last two months is an 11% increase.
Despite all these coherent happenings, we are told that things shall return normal in some few months after the impact of the coronavirus has reduced drastically. This means that the current economic crises has in a way been akin to the Coronavirus pandemic.
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