NPA reviewing calls to cushion petrol prices – Edudzi Tameklo

The National Petroleum Authority (NPA) says it is reviewing calls for government to extend its GH¢2 per litre subsidy on diesel to petrol consumers.

Speaking on Joy FM’s Midday News on Wednesday, September 16, the NPA Chief Executive Officer, Edudzi Tameklo, said the Authority is assessing various options to determine whether an extension of the intervention to petrol is feasible amid rising global petroleum prices.

“We are running different scenarios to see the feasibility, if it’s feasible under the circumstances, to extend to that of petrol as well,” he said.

Mr Tameklo said government has already committed more than GH¢1 billion to cushion consumers from the impact of rising petroleum product prices.

He explained that the current intervention provides a GH¢2 subsidy on every litre of diesel purchased by consumers.

The development comes as the price of petrol increases from GH¢15.17 to GH¢16.77 per litre, effective Wednesday, September 16, representing an increase of more than 6%.

The price of diesel has also gone up from GH¢16.97 to GH¢17.77 per litre, reflecting a 4.71% increase.

Meanwhile, Mr Tameklo said discussions are also ongoing over calls for the removal of the GH¢1 levy imposed on both petrol and diesel.

He said the government is considering the matter, with the Finance Minister expected to announce the way forward.

“Considerations are underway, and in the circumstance, everything becomes necessary. It becomes necessary. I’m sure the Finance Minister will announce the way forward,” he said.