According to the National Petroleum Authority (NPA), it would not burden consumers of their product with additional taxes especially not when the country is on partial lockdown and trying very hard to fight the deadly Coronavirus pandemic.
This debunks reports that the LPG Marketing Companies Association of Ghana (LPGMCs) are calling for the withdrawal of GHp 13.5 Cylinder Recovery Margin which took effect April 1, 2020.
The NPA, in a statement, said the margin is to assist marketers to offset some of their financial expenses, the action, they averred is in accordance with the full cost recovery principle of petroleum products pricing in Ghana.
“Per our projection for this very pricing window (1st April to 15th April, 2020), consumers are expected to enjoy a price reduction of about 11.56 per cent even with the introduction of the Cylinder Recovery Margin. These projections were made before the decision to introduce the Cylinder Recovery Margin,” the statement further added.
The NPA then assured the general public of their commitment of ensuring product availability, affordability and accessibility, while their safety and the business viability of players across the value chain.