Consumers of fuel products to pay more in the coming days

NPA re-introduces Prices Stabilisation Recovery Levy

Fuel prices increase at various pumps since January 2022

The Chamber of Petroleum Consumer Ghana (COPEC) is predicting yet another fuel price increment in the coming days.

The move is expected is to impact prices of petroleum products which are currently selling at around GH¢7 cedis at some pumps in the country with consumers already grappling to purchase.

According to Executive Secretary of the Chamber, Duncan Amoah in a statement projects that prices of petroleum are expected to go up by 30 pesewas.

“From 16th Feb 2022, at FOB price of US$880.79, our projected Ex-pump price is GH¢7.764, so it’s expected that the max Ex-pump price shall be hovering around GH¢7.750”.

At the start of this year, prices of petroleum products have increased by about GH¢1 with transport operators already threatening to increase fares.

Also, the National Petroleum Authority (NPA) has re-introduced the Price Stabilisation and Recovery Levy (PSRL) which is a key factor in the Fuel Price Build-Up.

The removal of the levy which span about three months, covered petrol, diesel, and Liquified Petroleum Gas. During the period, it culminated in the reduction of 16 pesewas per litre on petrol, fourteen pesewas per litre (GHp14/Lt) on diesel and fourteen pesewas per kilogram (GHp14/Kg) on LPG.