– Commercial –

In keeping with hints dropped by the Chamber of Petroleum Shoppers (COPEC), shoppers ought to count on to see a modest lower in gasoline costs on Monday, November 14, 2022.

Government Secretary Duncan Amoah has stated that the Chamber is taking motion to mitigate the consequences of the ever-increasing value of gasoline.

We anticipate a lower within the value of diesel from GH23 to GH21.19, and a lower within the value of gasoline from GH17.99 to GH17.10 or GH17.00.

“Based mostly on the FX knowledge that now we have collected over the earlier one week, diesel would possibly go down by GH2.00 a litre and gasoline may fall near a cedi per litre,” he remarked on Pleasure Prime on November 9.

– Commercial –

Nevertheless, he clarified that the elevated taxes on petroleum merchandise are in charge for the current will increase within the value of diesel, gasoline, and kerosene.

Mr. Amoah continued by saying that the Nationwide Petroleum Authority (NPA), the nation’s pricing regulator, is to not blame for the hike in gasoline costs.

– Commercial –

As an alternative, he positioned the duty on the federal government for economically mismanaging the nation.

He’s involved {that a} rise in petroleum taxes could lead to a lack of employment within the petroleum trade and is urging the federal government to maintain the rise to a minimal.

The present value of diesel is round GH$23, whereas the value of normal gasoline is roughly GH$18.

Mohammed Abdul-Kudus, the NPA’s public relations officer, agrees that the falling worth of the cedi, slightly than taxes, is to account for the rise in prices.

– Commercial –

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