Taxes must be reduced on fuel products – Chamber of Petroleum Consumers

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In the first pricing window of 2017, prices of some petroleum products went up by 11 percent.

But the chamber believes a possible review will make up for the recent increases caused by the depreciation of the cedi.

Consumers have began complaining about the cost of fuel.

Executive Secretary for the Chamber of Petroleum Consumers, Duncan Amoah, said government must move to curtail the increases. “Primarily, what is accounting for this seems to be the Cedi depreciating against the dollar.
In the industry, speculation is that, it is going to hit about 4.5 before the month of January ends” he explained.

The national petroleum tax initially was around 33 pesewas per litre, but today it has shot up to almost 54-55 pesewas per litre,” Mr. Amoah said.

Checks by Citi Business News indicated that, the price of a litre of petrol went up between 8 and 11 percent, while the same quantity for a litre of diesel is up between 9 and 11 percent.
A litre of petrol at some major Oil Marketing Companies (OMCs), is now selling between GHc 4 and GHc 4.15.

These hikes have attracted some agitation from consumers who are complaining the increment is too high. Some commercial drivers have begun adjusting their fares following the fuel prices increment.

Source: Citifmnoline.com

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