Fuel prices in Ghana are expected to go down marginally in the next pricing window commencing Thursday April 16, despite the proposed tax cuts by the government, according to Executive Secretary of the Chamber of Petroleum Consumers (COPEC) Duncan Amoah.
His comments follow a directive by President John Dramani Mahama after an emergency cabinet meeting last week to cut or remove some fuel-related taxes and margins.
The government also announced the introduction of 29-seater 100 new buses to assist commuters overcome the burden of high transport fares being incurred by the people
Amoah urged petroleum consumers to expect slight decreases but not a dramatic fall in the current prices of the product.
“Expect a slight decrease in petrol and diesel prices, not a dramatic fall. The tax cuts are a relief measure, but not a complete solution to high fuel costs. The tax cuts are expected to ease pressure on pump prices, leading to a slight reduction rather than a sharp drop, said the COPEC Executive Secretary.
He describes the move as timely, noting that some of these taxes had “outlived their usefulness.”
COPEC believes the intervention should provide some relief to consumers, even if modest.
Meanwhile, global crude oil prices remain volatile, influenced by geopolitical tensions.
Local pricing factors (like exchange rate and existing margins) still keep prices relatively high. Enditem
Source: Ghana Eye Report
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