Apart from any unplanned situations, the price of petrol, diesel and Liquified Petroleum Gas (LPG) will go up marginally from February 1, 2025..
As stated by the Chamber for Petroleum Consumers (COPEC), the retail price of petrol is due to go by 2.93% to sell at GH¢14.697 per litre.
The estimated average price of diesel for the next window would be GH¢15.869 per litre. This means the price of diesel will go up by 3.00%.
For LPG, the estimated average retail price is estimated at GH¢17.224 per litre.
COPEC sustained in its statement signed by its Executive Secretary, Duncan Amoah, that the government must reduce taxes on LPG or fund the price of LPG to elevate and encourage its nationwide availability and usage.
This, it said, will help save the environment from further degradation by the use of firewood.
Recently, the total taxes and levies on retail prices of petrol and diesel are rated at 21.34%.
COPEC is also asking for the cutback of the tax rates or take off some of the fuel taxes to reduce the burden on consumers.
On the other hand, it suggested a formula to adopted to vary the total levies with change in the dollar/cedi rate.
It further pleaded to the authorities not to back down in getting Tema Oil Refinery (TOR) back on stream in order to avoid or cut down the accession of finished products, with related fuel defile.
Source: Chaleradio.com