The Liquefied Petroleum Gas (LPG) Marketers Association of Ghana is making a passionate appeal to government to include LPG in its ‘Gold for Oil’ Programme.

The, association, believes this will go a long way to help stabilise and reduce the soaring price of LGP, similar to that of petrol and diesel.

Checks by Joy Business at some LPG outlets have revealed that the prices of LPG have gone up by about 5% per kilogramme from today March 1, 2023.

Speaking to Joy Business,  Vice President of the LPG Marketers Association, Gabriel Kumi, said if urgent steps are not taken to control the continuous surge in the price of the commodity, government’s efforts of increasing the consumption of LPG will be dashed.

“LPG prices have gone up beginning today [March 1, 2023] and initial indications we are picking from the BDCs [Bulk Oil Distributors] shows that the cost to the Oil Marketing Companies has gone up by about 10% per kilogramme. If we are lucky, competition will bring that one down to about 6% or 7%. But certainly LPG price will go up by not less than 5% beginning today and that will push the pump prices to about ¢16 per kilogramme from the ¢15 per kilogramme it was selling the previous window”.

“Diesel and petrol prices are going down but unfortunately LPG prices keep escalating and that is why our association has called on government to immediately look at including LPG in the ‘Gold for Oil’ deal so that it can also bring the prices down. We believe LPG is a product government must target in this deal because the rate at which LPG prices are going up is unbelievable and this will certainly thwart government’s effort at increasing penetration and usage of LPG in Ghana”, he explained.

Last year 2022, LPG consumption went down by over 12% against that of 2021.

Mr. Kumi said that should be a very big worry to every single Ghanaian and to government.

“Efforts should be made to ensure that this ‘Gold for Oil’ deal, LPG is included immediately because the experts are telling us that LPG prices on the international market will keep escalating even though diesel and petrol prices are coming down. So we appeal to government to immediately include LPG in this deal so it can help stabilise prices”.

He also called for reduction in taxes, saying “we believe this is the best time for government to take off taxes from LPG”.

“So, if we’re able to get LPG included in the Gold for Oil deal, and the taxes are removed, we believe that the prices could come down to a reasonable level so that every Ghanaian can afford”, he added.