Following an order from the President, the National Petroleum Authority (NPA) has prolonged the elimination of the Price Stabilisation and Recovery Levies (PRSL) on petrol, diesel, and LPG until the end of January 2022.
It presented the price build-up for the Oil Marketing Companies in a statement, which amounted to zero.
The Energy Sector Levies Act 2015 (Act 899) authorizes the implementation of the PSRL to stabilize the price of petroleum products for customers.
Currently, the PSRL for petrol is 16 pesewas per litre, diesel is 14 pesewas per litre (GHp14/Lt), and LPG is 14 pesewas per kilogram (GHp14/Kg).
Crude oil and refined petroleum products prices rose sharply on the worldwide market as demand for oil increased without a matching increase in supply, forcing this action in November 2021.
In Ghana, for example, international market prices caused fuel to reach as high as GH6.8 per litre at the time.
GOIL also decreased their fuel costs by 15 pesewas to provide relief to truckers who went on strike in December 2021.
This pushed other OMCs to lower their fuel prices in advance of the Christmas season.
However, by the end of January, the Institute for Energy Security said that customers could anticipate petrol costs at the pump to reach GH7 per litre.
Fuel costs per litre at most pumps in Ghana fell to approximately GH6.50 on average in recent weeks, but have suddenly climbed to an average of GH 6.70 at most pumps.
Find below the statement from NPA
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SOURCE: CITINEWS
