Business
Fuel price hikes: COPEC demands review of price stabilisation levy
The Chamber of Petroleum consumers (COPEC) is calling for a review of the Price Stabilisation Levy to minimise the impact of the surge in fuel prices on consumers.
Oil prices have seen a significant increase over the last few weeks with some oil marketing companies currently selling a litre of petrol for GHS5.35.
According to the Executive Secretary of COPEC, Duncan Amoah, the government must act soon to protect the interest of consumers.
“This is where we think that the state will also have to commit a bit by reviewing downwards the Price Stabilisation and Recovery Levy to ensure that in times as rough as these, you don’t continue charging Ghanaians a certain tax on pump prices that say you’re going to stabilise fuel prices for us. There is no under-recovery because of deregulation and those monies naturally should have been kept in a fund to stock up at BOST for all of us.”