The Chamber of Bulk Oil Distributors is asking business and the general public to blame the newly introduced and revised taxes for the sharp increase in the prices of petroleum products and not the Chamber.
This follows the about 30 percent hike in petroleum products which came into effect on New Year’s Day.
Speaking with JOY BUSINESS at a press briefing Monday, the Chief Executive of the Chamber Senyo Horsi said but for the taxes, consumers would have enjoyed substantial reduction in prices.
According to him, the information going round that suggests that “they gave us five percent and we went on to increase the rate by 28 percent is not accurate.
“Under normal circumstances we would not even be talking statistics, it’s none of our business really, because our job is to work with government and implement whatever they ask as to do.”
He emphasised that the number of taxes that have been introduced and the revised ones is the cause of the increase.
The net incremental impact of the new tax regime on petrol for instance is 86.39 pesewas per litre, Diesel is at 93.09 pesewas per litre and LPG at 56.08 pesewas per kilogram.
Mr. Horsi added that there is however, a 15 pesewas that has been allocated out of a total 94 or so for us as BDCs, where a part has been allocated to fund power, others allocated to fund the TOR Debt, and also the road fund, and so on.
That tax regime is what has really affected the pump price, he stressed.
Latest Stories
-
Akesse Brempong to hold ‘Davidic’ concert on April 21
33 mins -
Here’s why Dr. Steve Manteaw supports Otumfuo’s call for ECG, GRIDCo divestiture
48 mins -
Ejisu by-election: Former NPP MP files nomination to contest as independent candidate
1 hour -
Aklerh out with ‘Dancehall Queen’ EP
1 hour -
Burna Boy makes Time Magazine’s 100 Most Influential People
1 hour -
National Peace Council cautions clergy against spiteful comments ahead of December 7 polls
1 hour -
My wife sent nudes to her Dubai lover when I was battling kidney disease – Erico
2 hours -
Kudus urges West Ham to eye Ghanaian youngster Emmanuel Danso
2 hours -
Don’t be cowed into silence, defend Ghana’s democracy – Sam Jonah tells journalists
2 hours -
QNET triumphs at PR Awards 2024 with 3 prestigious wins
2 hours -
Dubai Airport slowly re-opening as UAE rainfall persists
2 hours -
Dumsor: Kumasi demonstrators demand immediate release of load-shedding timetable
2 hours -
Transport operators frustrated by long wait to hike fares
2 hours -
MTN FA Cup: Dreams FC’s quarterfinal game against Soccer Intellectuals set for May 1
2 hours -
Enimil Ashon: Season of promises and scholarship for the greedy
2 hours