The National Petroleum Authority (NPA) has reversed the suspension of the Price Stabilization and Recovery Levy on the price build-up of petroleum products.
This was contained in a letter dated April 3 2024 to the various players in the oil marketing and distribution industry.
The NPA directed all the Oil Marketing Companies and the other players that from April 4 2024, they should now apply 16 pesewas per litre of Petrol, 14 pesewas per litre of Diesel and 14 Pesewas on every Kg per Liquefied Petroleum Gas (LPG).
The NPA has however not disclosed why it reversed the suspension of the Price Stabilization and Recovery Levy.
The National Petroleum Authority in a letter on March 28 2024 announced the suspension of the Price Stabilization and Recovery Levy (PSRL) on price build-up on petroleum products.
The directive froze the implementation of the levy charged on every litre of petroleum products and Kilogram of LPG from Monday, April 1 to June 30 2024.
The decision was based on a directive from the Finance Ministry working with the Energy Ministry.
The action by the National Petroleum Authority could result in prices of various petroleum products going up again from 4th April 2024.
This is because the adjustments witnessed already at the various Oil Marketing companies from April 1 2024 did not factor the Price Stabilization and Recovery Levy on their price build-up.
However, based on these changes, 16 pesewas will now be added to every litre of petrol, 14 pesewas per litre on diesel and 14 pesewas on very Kg per Liquefied Petroleum Gas, LPG.
By: Rainbowradioonline.com/Ghana
