• The energy ministry will suspend the fuel levies soon
• The sector minister made this known when he received delegations GEA
• He said, the ministry is working with finance ministry to make the policy happen
The energy ministry is planning to suspend levies on all fuel products soon, the Energy Minister, Dr Matthew Opoku Prempeh has said.
In a Joy News report sighted by GhanaWeb, the minister indicated that, the ministry is liaising with the finance ministry to ensure that the decision is implemented.
The Energy Minister explained the move is critical in alleviating the plight of consumers in the face of recent hikes in fuel prices.
Dr Opoku Prempeh made this known when he receives some delegation from the Ghana Energy Awards (GEA).
Some stakeholders within the energy sector have projected that diesel prices are expected to go up marginally from the beginning of October 2021 while the price of petrol is expected to remain the same, even though some petroleum products including Liquefied Petroleum Gas will also go up.
“For the first Pricing-Window of October 2021, the 4.57% increase in the price of the International Benchmark- Brent crude, the 2.07% increase in the price of Gasoline, the 10.28% increase in Gasoil price, the 0.63% depreciation of the local currency against the US dollar; the Institute for Energy Security (IES) projects for the price of gas oil to increase and price of gasoline to remain stable on the domestic market at the various pumps as we enter October,” the Institute for Energy Security (IES) said.
The GEA delegation comprised Kwame Jantuah, an energy consultant, who is Chairman of the GEA Awarding Panel, included Prof. Felix Asante, Pro-Vice-Chancellor in charge of Research, Innovation, and Development, University of Ghana; Dr Lawrence Tetteh, economist and renowned evangelist, who are panel members; Henry Teinor, Chief Executive of the Energy Media Group, the event director; Nicholas Frimpong-Manso, MD of GP Business Consulting, co-Organiser of the event, and Patricia Danful and Cornelius Atiase from the Awards Secretariat.