Consumers to pay more for fuel as NPA restores Price Stabilisation and Recovery Levy

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Consumers of petroleum products should be prepared to pay more at the pumps as the National Petroleum Authority (NPA) restores its Price Stabilisation and Recovery Levy, today, Tuesday, February 1, 2022.

The NPA in October 2021, upon a request by the President of the Republic, H.E Nana Addo Dankwa Akufo-Addo, suspended the levy.

This was parts of the efforts by the government to cushion consumers from the constant rise in the price of fuel products in the country.

Even with that, fuel prices occasionally saw a marginally increase with same happening just last month.

In a press release from the NPA, the ‘holidays’ are over for the Ghanaian people. According to the Authority, the Price Stabilisation and Recovery Levy from today has been restored.

“We hereby wish to inform all Oil Marketing Companies (OMCs) and LPG Marketing Companies (LPGMCs) that effective 1st February, 2022, the PSRLs on petrol, diesel and LPG have been fully restored,” an NPA release said on Monday.

The NPA explained that any attempt to extend the suspension will negatively affect the payment of subsidies to the suppliers of these products, and threaten the continuous supply to customers.

From a stroll in town today, fuel prices have already seen a marginal increase as seen below:

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