The Price Stabilisation and Recovery Levy (PSRL) charged on the sale of various petroleum products in the country has been suspended by the National Petroleum Authority (NPA) for two months.
The suspension of the levy follows a directive by the President, Nana Akufo-Addo.
Announcing the suspension of the levy, Chief Executive Officer (CEO) of the NPA, Dr Mustapha Hamid noted the levy suspension is to mitigate the impact of the rising prices of refined petroleum products on the world market on Ghanaian consumers.
“The outlook of prices on the global market shows an uptrend and therefore there was the need to seek government’s intervention to lower the levies to cushion consumers from feeling the full impact of these rising prices,” said Dr Hamid.
Presently, the PSRL on a litre of petrol and diesel is 16 pesewas and 14 pesewas respectively. On a kilogram of Liquified Petroleum Gas (LPG), it’s 14 pesewas.
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