Parliament amended the Special Petroleum Tax Act and reduced the tax rate from 17.5% to 15%.

READ ALSO:Fuel prices drop by 2%

Excise Duty in the Customs and Excise (Petroleum Taxes and Petroleum Related Levies) Act, which had imposed some levies on fuel has been abolished.

Consequently, the NPA in a statement signed by the Authority’s Technical Director, Jacob Awuah on behalf of the acting Chief Executive, asked the OMCs to reduce ex-pump prices of fuel to reflect the changes.

READ ALSO:Fuel prices likely to go down by 3% - IES

Below is the letter.