Former boss of the National Petroleum Authority (NPA), Alex Mould has described government’s decision to introduce two new levies on petroleum products including Liquified Petroleum Gas as “insensitive towards consumers.”
The NPA, in a circular issued on April 1, 2020, announced a new levy of GHp13.5 as Cylinder Investment Margin, to help the LPG marketing companies offset aspects of the cost involved in procuring and branding cylinders for the new energy policy (the Cylinder Recirculation Model) as well as an increase in Fuel Marking Margin from GHp3.0 to GHp4.5 per litre for fuel.
But, the energy and finance expert, instead, wants the government to reduce fuel prices drastically to help cushion commercials drivers who are asked to reduce the number of passengers amidst social distancing.
“Did the President sit down for John-Peter Amewu to introduce and increase new margins in the Petroleum Price Build-Up? Why will the NPA unilaterally enforce this without informing the public? This is the time to show empathy and not rape consumers. The timing is soo wrong,” Mr Mould said.
Meanwhile, a notice shared by Anny Osabutey from the Corporate Affairs Department of NPA indicated that there is a reduction in the price of petrol at the pumps, with Goil reducing their price to about 10 percent.
The notice explained that, “this means you get to save some money for other essential expenses at this critical time. The price of gas has also recorded a significant reduction.”
Energy experts had predicted over 20% reduction in the fuel prices at the pump.
But Mr Mould believes the new levies will disadvantage fuels users as they have to still pay more even when the world oil price has reduced to an all time lowest in 18 years record trading at US$20 per barrel as of Wednesday, April 1, 2020.