COPEC hints of increment in fuel price.

Fuel prices are likely to go up in the coming weeks after parliament has approved the 2021 budget based on the new petroleum sector levy that has been introduced in the budget.
A research, Pricing and Monitoring Officer at the Chamber of Petroleum Consumers Ghana (COPEC), Sampson Addae has hinted that there is likely to be an upward adjustment of petroleum products at the pumps due to the introduction of petroleum sector levy in the 2021 budget statement.
The government has introduced Energy Sector Recovery Levy of 20 pesewas per litre on petrol/diesel under the ESLA. This will help generate funds for government to undertake certain development.
Speaking on Daybreak Upper East show on A1 Radio, Mr. Addae said if for nothing at all, the new petroleum sector levy that has been introduced in the budget statement and economic policies of the year 2021, will be implemented in the coming days. This will by itself compel fuel prices at the pump to increase.
According to Mr Addae, “We expect that maybe in the coming weeks which is the second pricing window for the month of April, once parliament has passed the budget and then the ESLA levy which saw an increment of 0.30 pesewas which is 5.7% will be put to use and once that one comes, if for nothing at all the 5.7% increment will take effect.”
Fuel price on the local market remains largely stable within the window under review. Price of petroleum products within the second Pricing-window of March 2021 saw the Oil Marketing Companies (OMCs) maintain prices at the pump throughout the period. The current national average price of fuel per litre at the pump is pegged at Gh¢5.16 for both products.
Source: A1radioonline.com|Agana Blaise|Ghana