Economy

Petroleum prices go up

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Prices  of petroleum products have gone up Saturday morning between 3 and 6 percent at the pumps, Joy Business has learnt.

Petrol has gone by 6.25 percent per liter and would now be selling at ¢2.55 pesewas per liter.

Kerosene would also be selling at ¢2.60 pesewas  per liter.  Diesel  and  Marine Gas oil has seen a  little  over  6 percent adjustment in price per litre.

However premix which  is mainly used by fishermen would just go up  by 3.45 percent per litre and would  be selling at the pumps  at ¢1.20 pesewas.

But prices of LPG and RFO  remained unchanged.

JOYBUSINESS has gathered that the increment is in line with the National Petroleum Authority's plan to review prices of the various petroleum products every two weeks.

However the increment did not factor in the new "Ad -valorem tax" which is  between  1 and 6 percent on all the products.

Prices would have shot up to between 10 or 15  percent if the tax were to have been added.

A source close to the Ghana Revenue Authority told JOYBUSINESS the NPA should have implemented the tax on the products from January 8.

It is still unclear why the NPA has delayed in implementing the tax.

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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.