The Chamber of Petroleum Customers (COPEC) has introduced that gas costs are more likely to be diminished subsequent week Monday

There was a current hike in gas costs as Diesel is at the moment promoting for greater than GH¢23, whereas the value of petrol is hovering round GH¢18.

However talking to Roselyn Felli on Prime Morning present, yesterday, the Government Secretary of the Chamber, Duncan Amoah, indicated that measures had been being put in place to assist subsidise the rising costs.

“We shall be anticipating diesel to drop from GH¢23 to someplace round GH¢21.19, and the petrol can even drop from GH¢17.99 to someplace GH¢17.10 or GH¢17.00.

“All issues being equal, diesel might go down by GH¢2.00 a litre and petrol might go near a cedi per litre primarily based on the foreign exchange numbers that we have now picked over the previous one week,” he mentioned.

Mr Amoah acknowledged that the rise was as a result of enhance in taxes on petrol to round 422 per cent throughout the yr.

He famous that the Nationwide Petroleum Authority (NPA) shouldn’t be blamed for the rise in costs; as a substitute, he believed it was because of ‘mismanagement’ by the federal government.

He, due to this fact, needed the federal government to minimise the rise in petroleum taxes, saying it might result in lack of jobs within the petroleum sector.

In the meantime, the Public Relations Officer of the Nationwide Petroleum Authority (NPA), Mohammed Abdul-Kudus, was of the opinion that the increment in costs must be blamed on the cedi depreciation and never taxes.

Based on him, deregulation of the gas costs distorts the communication between the Authority and Oil Advertising Firms (OMCs) when some firms’ costs had been completely different.

“One other factor that has not helped us to a big extent has been the instability of our foreign money. Everyone knows the dynamics within the administration of foreign exchange across the francophone nations that usually assure them a sure stability on their foreign money,” he defined.