Government directs GOIL to reduce fuel prices
Taxes on fuel to be reviewed in the mid-year budget review
A check at the various pumps shows that the Ghana oil company (GOIL) has today Tuesday, December 7, 2021, reduced the prices of fuel from GH¢6.85 to GH¢6.70 pesewas.
Commercial transport operators on Monday, December 6, 2021, embarked on sit-down strike to drive home concerns regarding taxes on petroleum products.
According to them GH¢1.50 worth of tax on every litre of petrol or diesel is expensive.
The taxes and levies include Energy Debt Recovery Levy, 49p; Road Fund Levy, 48p, Energy Fund Levy, 1p, Price Stabilisation and Recovery Levy 14p; Sanitation and Pollution Levy, 10p; Energy Sector Recovery Levy, 20p; Special Petroleum Tax, 46p, and Primary Distribution Margin, 11p.
The government however resolved to meet the operators to address the concerns and make the necessary interventions.
The outcome of the meeting was a directive to GOIL to reduce its prices, a move the union says they are happy about.
The government also said the taxes will be reviewed in the mid-year budget review.
Meanwhile, COPEC believes the government will not run at a loss if it decides to scrap the taxes.
GOIL has, however, reduced its prices accordingly.
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