Chamber of Petroleum Consumers in Ghana directs the government to withdraw the increment on petroleum products

The Chamber of Petroleum Consumers-Ghana (COPEC-Ghana) has asked the government to withdraw the recent tax increment on petroleum products.

Chamber of Petroleum Consumers in Ghana directs the government to withdraw the increment on petroleum products

This comes after some leading oil marketing companies (OMCs) across the country increased prices of fuel.

The advocacy group made the revelation in a statement it released and was signed by its Executive Secretary, Mr Duncan Amoah.

The group said fuel prices have increased due to the over-burdening taxes placed on petroleum products.

“Our call is to make way for further dialogue on the current fuel price build-up, with the view to reversing the recent unfortunate trend of persistent increases, as it is serving no good, aside from putting lives and businesses across on the edge,” the statement said.

The chamber further noted that several calls had been made to the government over the past year to review the over-burdening taxes on the petroleum price build-up, but no concrete steps had been taken in that regard.

Background

Fuel prices in Ghana have shot up from GH¢5.19 per litre to about GH¢5.39 per litre, representing a 3.7 percent jump in prices at the pumps.

The increase comes after the National Petroleum Authority (NPA) directed Oil Marketing Companies (OMCs) to start applying the revised Energy Sector Levies.

The Finance Minister, Ken Ofori-Attah announced the NPA’s directive in the Supplementary Budget he presented recently to the floor of Parliament.

Based on the revision petrol would have a GH¢0.20 adjustment, while Diesel would also attract GH¢0.20 jump in price per litre.

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