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HomeNews15 pesewas per litre reduction in fuel price disappointing – COPEC

15 pesewas per litre reduction in fuel price disappointing – COPEC

The Chamber of Petroleum Consumers Ghana (COPEC), says it is utterly shocked at the government’s 15 pesewas per liter reduction in the cost of fuel beginning April 1, 2022. COPEC’s Executive Secretary, Duncan Amoah insists the reduction is way below its expectations following discussions between relevant stakeholders and the government.

Speaking to Citi News, he said the amount is insignificant to relieve Ghanaians, suggesting that a 50-60 pesewas reduction would have been welcoming.

“Cumulatively, we should have been looking at something between 50 and 60 pesewas. But we woke up today and heard the Finance Minister go into operator margins and not a single of the taxes being reduced. He simply went into operator margins and blatantly refused to reduce the taxes in these abnormal times. But here we are, we are completely detached from the stuck reality.”

Fuel prices in Ghana will go down by 15 pesewas per liter effective April 1, 2022. This reduction will be in place for three months, according to Finance Minister, Ken Ofori-Atta.

But Duncan Amoah made a point that, per the meetings with the Ministers of Finance and Energy, players in the energy sector expected the complete abolition of some taxes or at least half these levies to cushion Ghanaians.

He further explained that the anticipated reduction is a disappointment and will amount to nothing.

“I am afraid this is very disappointing, to say the least. We decided that some of the margins must go. The Special Petroleum Tax Levy is 46 pesewas. Even if they don’t half it; they could have given Ghanaians 23 pesewas relief without affecting so badly what they are also generating. Again, we raised the issue of the Price Stabilization and Recovery Levy.”

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