Consumers of petroleum (fuel) products are likely to pay more in the coming days as the gov’t imposes new levies

Ghana’s revenue is hinged on crude oil projected at a benchmark price US$54.75 per barrel, up from US$39.1 per barrel for 2020. The government is projecting US $ 800million in Petroleum Revenue for 2021. The Minister for Parliamentary Affairs, Osei Kyei-Mensa-Bonsu presented the 2021 budget in the absence of Finance Minister-designate Ken Ofori-Atta.

Mr Kyei-Mensa-Bonsu said the government is proposing a Sanitation and Pollution Levy (SPL) of 10 pesewas on the price per litre of petrol/diesel under the Energy Sector Levies Act (ESLA) He backed in rebuttal with data to show “that under the Akufo-Addo Government, the increase in petroleum prices is the lowest in the Fourth Republic” The Ministry of Finance had it paid over GH₵12 billion as the cost of excess energy capacity charges inherited since 2017, he said. He further debunked assertions of rising fuel prices under theAkufo -Addo administration. Between 2009 and 2012 average petrol prices increased by 5% annually, he claimed. Between 2013 and 2016, average petrol price increased by 24% annually. Between 2017 and 2020, he added.

The Chamber of Petroleum Consumers-Ghana (COPEC Ghana) Executive Secretary Duncan Amoah has been championing a cut in levies in the past. He was of the view that vehicle operators and the public should not pay more for fuel due to geopolitical forces.

 

Kobby Koomson
Author: Kobby Koomson

Scoop-Gh

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