Ghana’s regulator considers extending petrol subsidy
Ghana’s National Petroleum Authority (NPA) is considering calls to extend the 2 Ghanaian cedi (GH¢) per litre diesel subsidy to petrol. NPA Chief Executive Edudzi Tameklo stated this on Joy FM, MyJoyOnline reports.
Assessing the subsidy extension
According to Tameklo, the authority is working through various scenarios to determine whether it is possible under current conditions to extend the existing mechanism to petrol. He linked the consideration of this issue to rising global prices for petroleum products.
Currently, the subsidy amounts to GH¢2 for every litre of diesel purchased by consumers. Tameklo also said that the government has already allocated more than GH¢1 billion to cushion consumers from the effects of rising petroleum product prices.
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Prices and fuel levy
Since September 16, the price of petrol has risen from GH¢15.17 to GH¢16.77 per litre, or by more than 6%. The price of diesel has increased from GH¢16.97 to GH¢17.77 per litre, or by 4.71%.
In addition, discussions are ongoing on the possible removal of a GH¢1 levy charged on petrol and diesel. According to the NPA head, the government is considering the matter, while further steps are expected to be announced by the finance minister.
