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JUST IN: 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.

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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.

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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….

SOURCE: Gossips24.com

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