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#FixTheCountry: Gov’t Reduces Fuel Prices By 8 Pesewas After Protests

The government is expected to slash fuel prices by 8pesewas per litre following agitations over price hikes.

Skyrocketing fuel prices triggered a huge uproar on social media amidst other challenges leading to the #Fixthecountry, which topped trends for days on Twitter.

The government has responded via the Ministry of Energy, which is expected to cut some levies after consultations on Tuesday, April 4.

The decision was finalised after a meeting between the ministry, National Petroleum Authority (NPA), Bulk Oil Storage and Transportation Company Limited(BOST), Oil Marketing Companies (OMCs) and the Chamber of Petroleum Consumers-Ghana (COPEC), among others.

It is unclear how the development would affect a proposed 20% increment in transport fares mooted by commercial vehicle operators.

The NPA had earlier announced a 17 pesewas increment, and the reduction will keep the increment at 9% effective May 5.

The increment resulting from tax hikes to shore up revenue is expected to have a ripple effect on goods and services.

More soon….

 

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