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Fuel Prices in Ghana COPEC, ICU set to demonstrate over hike in fuel prices

Members of COPEC and ICU are set to hit the streets on Wednesday in a bid to force government into reducing taxes on petroleum products.

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The Chamber of Petroleum Consumers (COPEC) and the Industrial and Commercial Workers Union (ICU) are set to hit the streets on Wednesday to demonstrate over fuel price hikes in the country.

READ ALSO: GCB closes down 31 branches of defunct UT, Capital bank

They are expected to be joined by hundreds of commercial drivers and consumers of petroleum products, as they demonstrate to register their displeasure with the persistent increases in the prices of petroleum products.

The National Petroleum Authority (NPA) has previously stated that provisions are being made to ensure that prices will remain fairly stable at the pumps.

 

However, the prices of petroleum products have continued to soar, with a litre of both petrol and diesel going for GHc4.62 at some major fuel stations.

Members of COPEC and ICU are, therefore, set to hit the streets on Wednesday in a bid to force government into reducing taxes on petroleum products.

Executive Director of COPEC, Duncan Amoah, said government must embark on an “immediate review of the price build up”, whiles calling for a reduction of taxes on petroleum products.

READ ALSO: Minority walks out of debate over committee report

Speaking to Accra-based Citi FM, he said: “We are paying close to $5 in order to be able to get petrol to your tank. That clearly is not helping anything. We understand very well that some of the taxes were introduced as windfall taxes at the time that world market prices had dropped so low and Ghana needed a little more revenue in order to be able to cushion the world market prices that have gone down.

 

“Today, the same dynamics are not at play. Unfortunately, the taxes that were introduced which should have gone by now, are still all in place. Ghana selling petrol above 20 cedis and it is still going up, it cannot be sustained. We need an immediate review of the price build up. We need some reduction. We need some stability in order to plan our spending on petroleum products in the country.”

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