• Tue. Aug 2nd, 2022

Fuel price hikes: Remove taxes on petroleum products – Minority to Gov’t

To counteract the impact of rising crude oil prices on the international market, the Minority in Parliament is calling for the immediate repeal of three tariffs on petroleum products.

The minority’s demand arises from the fact that consumers are now paying more than 8 cedis for petrol and diesel at the pumps.

As a result of the change, transportation fares have increased by 15%. In an interview with the media, Edward Bawa, the MP for Bongo and a minority member of the Mines and Energy Committee, argued that if the government does not take immediate steps to remove taxes such as the Energy Sector Levy, the Sanitation and Pollution Levy, and the Special Petroleum Levy, everything will come crashing down.

Bawa also ordered the Bank of Ghana to take drastic measures to halt the cedi’s depreciation, which he claims is exacerbating the crisis.

He cautioned that if the government does not listen to the plight of customers, petrol prices could rise to nine cedis in the next window.

“While the government has no authority over the worldwide market, it does have control over taxes…”

There are a variety of taxes imposed on it. You have the special petroleum tax, the energy sector recovery levy, the road fund levy, the sanitation pollution charge, and the energy debt recovery levy, all of which are levied by the government between the ex-refinery and the ex-depot.”

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