• About Us
  • Contact Us
Account
GTB
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
No Result
View All Result
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
No Result
View All Result
Account
Ghana Talks Business
No Result
View All Result

Akufo-Addo removes price stabilization and recovery levies on fuel

12/10/2021
Reading Time: 2 mins read
Price stabilisation recovery levy: ghanatalksbusiness.com
0
SHARES
Share on FacebookShare on TwitterShare on WhatsApp

In a press statement on Monday, October 11, the National Petroleum Authority (NPA) announced that President Akufo Addo has approved the removal of the Price Stabilization and Recovery Levies on petrol, diesel, and LPG for 2 months.


“The National Petroleum Authority (NPA) wishes to inform the public that His Excellency the President, Nana Addo Dankwa Akufo-Addo, has granted approval to zero the Price Stabilisation and Recovery Levies on petrol, diesel, and LPG for a period of two months,” the press statement by the NPA read.


Reasons for the removal of the price stabilization and recovery levies


Consumers have over the past months been faced with rising fuel prices on the domestic market as a result of an increase in demand for petroleum products on the global market without a corresponding increase in supply.


“Prices of crude oil and refined petroleum products have seen sharp increases on the world market due to a rise in demand for oil globally without a corresponding increase in supply, particularly from the Organisation of Petroleum Exporting Countries (OPEC) and its allies,” NPA’s press statement read.


To mitigate the impact of rising prices of petroleum products on the world market on consumers., NPA advised the Energy Minister for the government’s intervention. This advice led to Akufo Addo approving the removal of the Price Stabilization and Recovery Levies (PSRL) for 2 months.


“The purpose of the Price Stabilization and Recovery Levy (PSRL) is to stabilize prices for consumers and pay for the subsidies on Premix Fuel and Residual Fuel Oil (RFO),” NPA said.


According to the NPA, the current PSRL on fuel stands at 16 pesewas per litre on petrol, fourteen pesewas per litre (GHp14/Lt) on diesel, and fourteen pesewas per kilogram (GHp14/Kg) on LPG.


So, with the President’s approval, each of the above amounts mentioned above will no longer hold for the remainder of the months to end the year. Hence, consumers will no longer have to worry about paying the 16 pesewas per litre on petrol, fourteen pesewas per litre (GHp14/Lt) on diesel, and fourteen pesewas per kilogram (GHp14/Kg) on LPG for the remainder of the year.

ALSO READ: Fuel prices still ticking up – 5 helpful tips to save you money



Previous Post

How Menzgold intends to pay its customers from December 2021

Next Post

Win customers’ hearts, minds and market share with these four strategic tools

Related Posts

Rising fuel prices, ghanatalksbusiness.com

Rising fuel prices – why?? Are we alone in this?

28/03/2022
money saving tips

#GMW2022 Fuel prices surge – 5 helpful tips to save you money

22/03/2022
fuel price hikes

Ghanaians should expect fuel prices to fall in December 2021, NPA assures

26/11/2021
Rising transport fares, ghanatalksbusiness.com

Transport fares to rise if Government fails to heed our concerns – GPRTU

22/10/2021
Price of Diesel, ghanatalksbusiness.coms

Diesel prices to increase in first pricing window of October – IES

02/10/2021
fuel price hikes

COPEC and IES predict further increase in fuel prices, with transport fares expected to rise

22/06/2021
Next Post
win customers, ghanatalksbusiness.com

Win customers' hearts, minds and market share with these four strategic tools

PHD Media, PHD Media new identity

PHD launches new global visual identity

  • About Us
  • Disclaimer
  • Privacy Policy
  • Advertising
  • Contact Us

© 2021 Ghana Talks Business

No Result
View All Result
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
  • Login

© 2021 Ghana Talks Business

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In