The decision follows significant pushback from the Chamber of Oil Marketing Companies (COMAC), which cautioned that the GH₵1-per-litre levy could lead to a notable rise in fuel prices, further straining consumers financially.
In light of increasing concerns from the industry, the GRA has confirmed that it engaged with stakeholders and reached an agreement to facilitate a more seamless implementation.
In an interview with Citi News, a representative from the GRA elaborated on the rationale behind the new decision:
“The association has expressed worries regarding the 9 June start date. We have had discussions with their leadership in a spirit of cooperation and partnership, and we have settled on a new commencement date of 16 June.”
This levy is part of the government’s wider plan to tackle financial deficits in the energy sector and to settle debts related to the sector. However, it has encountered opposition due to concerns that it might destabilize the already vulnerable downstream petroleum market.
Stakeholders contend that there was insufficient industry consultation prior to the initial announcement.
As detailed in the GRA’s directive signed by Commissioner-General Anthony Kwasi Sarpong, the updated levy rates will impact various petroleum products as follows:
the charge on Motor Spirit (Super Petrol) will rise from GH₵0.95 to GH₵1.95 per litre;
AGO/Diesel and Marine Gas Oil (Foreign) will increase from GH₵0.93 to GH₵1.93;
Marine Gas Oil (Local) will go up from GH₵0.03 to GH₵0.23;
and Heavy Fuel Oil (Residual Fuel Oil – RFO) will change from GH₵0.04 to GH₵0.24.
Moreover, the rate for Partially Refined Oil (Naphtha) will also double to GH₵1.95 per litre.
Importantly, the levy on Liquefied Petroleum Gas (LPG) will remain the same at GH₵0.73 per kilogram.
Source: HotFmOnline.com
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