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NDC MP’s To Hit Regions And Districts From October 15 To Protest Over Fuel Prices

Minority in Parliament has announced to start combing the regions and districts from October 15, 2018 over persistent increase of petroleum products.

September 20, 2018

The Minority in Parliament has announced to start combing the regions and districts from October 15, 2018 over persistent increase of petroleum products.

They are expected to meet various stakeholders to prove to them the reason why government must scrap Special Petroleum Tax and the tax is now 46 pesewas per litre of petrol, diesel and LPG. He said if a consumer bought five litres of fuel, government would be taking ¢2 as Special Petroleum Tax.

There are at least 11 different taxes on petroleum products constituting at least 49% of fuel price at the pump. In September 2017 when a litre of petrol sold at ¢4.39p, the tax on it amount to ¢2.17p

Fuel prices have hit the 5 cedi mark with diesel going for GHc5.18 pesewas per litre, and petrol 5.14 per litre.

According to the Minority Spokesperson on Mines and Energy, Adam Mutawakilu, the tax has outlived its usefulness at a time when world market prices allow government to make a windfall of 10 million dollars per day from crude exports.

Addressing the media, the Damongo Member of Parliament said government must not be insensitive to the plight of Ghanaians.

“In the 2018 budget, this [Akufo-Addo] government presented to Parliament a benchmark price [the price at which we sell our oil] of $57 per barrel. But as we speak now, the price per barrel is $77 per barrel. That means government is making surplus of $20 per barrel. And currently we produce at almost 200,000 barrels. So if you multiply this $20 barrel excess by 200,000 we are talking about $10 million surplus every day.”

“That means every day government is making surplus of $10 million. By this, the special petroleum tax has nowhere to fill in the gaps in respect to the oil prices. And that is why we are calling on President Nana Akufo-Addo to as a matter of urgency scrap the special petroleum tax. Currently, it’s about 46 pesewes per litre, and if it’s about 5 litres a gallon, you are talking about Ghc2.2. If you calculate it as a percentage that’s about 10%,” he added.

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