The Government of Ghana has extended the two months’ suspension of the Price Stabilisation and Recovery Levy (PSRL) to one more month.
The PSRL is one of the tax components of the petroleum price build-up in the Republic of Ghana.
Consumers pay 16 pesewas as PSRL on a litre of petrol and 14 pesewas on a litre of diesel and a kilogramme of LPG.
President Akufo-Addo directed the country’s petroleum downstream regulator, NPA, to suspend the PSRL for two months from November to the end of December 2021.
The move was intended to cushion Ghanaians from the rising cost of fuel on the local market as crude oil prices on the world market continued to skyrocket.
In October, International Benchmark Brent hit $86 per barrel.
The PSRL was expected to be reintroduced in January 2022.
However, the Communications Manager at NPA, Kudus Mohammed said the government has extended the suspension of the Price Stabilisation and Recovery Levy to the end of January 2022.
Meanwhile, some Oil Marketing Companies (OMCs) had already adjusted their fuel prices at the pump with TotalEnergies currently selling super at Gh¢6.80 per litre while diesel is sold at Gh¢6.85 per litre from an earlier GHc6.65 per litre for both products.
Source: https://energynewsafrica.com