NPA reviewing calls to cushion petrol prices – Edudzi Tameklo

The National Petroleum Authority (NPA) is currently evaluating the possibility of extending the GH¢2 per litre diesel subsidy to petrol consumers amid escalating global petroleum prices. Edudzi Tameklo, the NPA's Chief Executive Officer, disclosed these details during an interview on Joy FM's Middaynews on September 16. The Authority is currently examining different options to ascertain whether such an extension would be viable under present circumstances.

So far, the government has allocated more than GH¢1 billion to alleviate the impact of soaring petroleum product prices on consumers. Currently, the subsidy offered on every litre of diesel purchased by consumers is GH¢2. This development comes as petrol prices have surged from GH¢15.17 to GH¢16.77 per litre, a rise of more than 6%. Similarly, diesel prices have gone up from GH¢16.97 to GH¢17.77 per litre, marking a 4.71% increase.

Moreover, Tameklo mentioned that discussions are underway regarding the removal of the GH¢1 levy imposed on both petrol and diesel. The government is considering this matter, with the Finance Minister slated to announce the final decision. "Considerations are underway, and in the circumstance, everything becomes necessary. It becomes necessary. I'm sure the Finance Minister will announce the way forward," Tameklo concluded.