The Chamber of Petroleum Consumers (COPEC), is disappointed that the government did not propose any policy in the 2022 budget statement to address the continuous hikes in fuel prices.
COPEC’s grievance comes on the back of another increment in the price of fuel from GH¢6.90 per litre to GH¢6.99 per litre.
Speaking to Citi News, Executive Secretary of the Chamber, Duncan Amoah, said he hopes the situation does not escalate before the year ends.
According to him, the Ministry of Energy must make a case to the President for other taxes on fuel to be removed to curb the constant increase of the price.
“We don’t know what will happen but we will keep hoping that before the end of the year, maybe the Ministry of Energy will be able to make a concrete case to the President again just as the Price Stabilisation and Recovery Levy has been zeroed for other taxes to also be zeroed.”
Mr. Duncan Amoah had reiterated calls for the government to review the taxes imposed on petroleum products in the country.
According to him, taxes are a major driving factor behind the rising cost of fuel in the country.
Mr. Amoah in a Citi News interview said the situation is not helping the personal economies of persons who directly consume petroleum products.
He said, although the exchange rate also plays a role in the development, there isn’t a strong argument to hold it responsible as the major cause.
“Taxes definitely are driving our prices upwards, The forex is not helping much. [The dollar was stronger many years ago] but, we didn’t get to GH¢ 6.5 per litre. The taxes are too strong in relation to the upward increase in prices,” he said.
“With the recent increment [in prices] we are talking about from GHS 6.38 to GHS 6.52… You can imagine what this alone does to your pocket anytime you go to the pump. On every gallon, Ghanaians could have saved GH¢2.07 pesewas,” he added.