GH¢1 D-Levy suspension will offer relief to fuel consumers – COPEC

Duncan Amoah, Executive Director of the Chamber of Petroleum Consumers (COPEC), has stated that suspending a GH¢1 D-Levy on fuel will help alleviate the burden of rising fuel prices on consumers. This comes after petrol consumers called for the government to extend its support to petrol, following a projected 2.12% increase in petrol prices in October.

The government has extended the GH¢2 per litre subsidy on diesel for two more months, also reducing margins on diesel by GH¢1 and eliminating the Energy Sector Shortfall and Debt Repayment Levy. While petrol consumers had anticipated a similar intervention, Amoah noted that the additional GH¢1 D-Levy suspension would still offer some relief.

Speaking on Joy FM’s Midday News, Amoah emphasized that the government has already suffered a significant financial loss by maintaining the GH¢2 per litre intervention on diesel for almost three months. "The public has expectations, and the government can only do so much," he said. "The cost to the state will be huge." COPEC initially believed the GH¢1 D-Levy suspension would apply to both petrol and diesel.

However, consumers purchasing petrol are still required to pay the GH¢1 D-Levy, while the government bears an equivalent amount on diesel. Amoah believes that the suspension of the remaining GH¢1 D-Levy will significantly alleviate the impact on consumers.