Accra, Feb. 01, GNA – The 3-month suspension of the Worth Stabilisation and Restoration Levy (PSRL) prices the Govt about GHC 170 million, the Nationwide Petroleum Authority (NPA) has mentioned.
Mr Mohammed Abdul-Kudus, Communications Supervisor, NPA, informed the Ghana Information Company that the suspension of the Levy value the Govt about GHC 58m in earnings per month.
He mentioned the reintroduction of the Levy this month after the three-month suspension had develop into important as a result of price range generated from the Levy have been used to subsidise premix gas and commercial gas according to the goals of the Power Sector Levies Act, 2015 (Act 899).
“What it approach is that for a length of 3 months that it used to be suspended, the Govt used to be nonetheless discovering cash somewhere else to be subsiding premix and commercial gas.” Mr Abdul-Kudus said.
As a part of measures to minimize the weight on customers, the Govt suspended the PSRL price on petrol, diesel, and LPG from November, 2021, to the top of January 2022.
The PSRL imposes a 16-pesewas-per litre levy on petrol, Ghp14 pesewas according to litre on diesel, and GHp14 according to kilogram on LPG.
Mr Abdul-Kudus mentioned although gas costs had long gone up over the length, the Levy may just now not be suspended in perpetuity because it used to be established by means of an Act of Parliament.
He mentioned because of the deregulation pricing mechanism, the hike in petroleum merchandise at the global marketplace used to be responsible for the continual increment in gas costs on the native pumps.
“Global crude costs are going up and on account of the deregulation, anytime there’s a exchange at the global marketplace, we will be able to have a transformation on the pump, and crude costs had been going up considerably,” Mr Abdul-Kudus mentioned.
Costs of petrol and diesel went up marginally by means of some 10 pesewas according to litre on Tuesday, February 01, 2022.
Some oil advertising and marketing firms are promoting petrol and diesel for GHC 7.090 and GHC 7.130 according to litre respectively.
The Institute for Power Safety (IES) had projected that costs of petrol, diesel and LPG would move up by means of no less than 25 pesewas according to litre within the first two weeks of February, 2022.
In its projections for the February 2022 First Pricing Window, the IES attributed the predicted increment to a hike in Brent Crude costs and LPG amongst different commodities at the global marketplace.
“The pending will increase come at the again of an 8.52 according to cent build up in the cost of Brent crude, a 5.5 according to cent upward push in LPG value, a 6.23 according to cent build up in value of Fuel, and 9.86 according to cent leap in Gasoil value; all at the global oil and gas markets,” it mentioned.
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