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The Chamber of Petroleum Consumers (COPEC) has argued that the persistent revenue leakages in the petroleum sector, if blocked, could rake in enough revenue to cater for governments’ expectations.
According to the outfit, the accumulative GH¢1.2 billion expected from the newly proposed 30 pesewas levy, which could be earned through blocking revenue leakages, was a burden on the consumer.
The Executive Secretary for COPEC, Duncan Amoah, told The Chronicle in an exclusive interview over the weekend that though he acknowledged revenues were necessary to the governments for developmental projects and programmes, he described the new tax proposal as a ‘lazy way’ of raising revenue.
Already, the price of fuel at some major pumps across the country is currently selling at GH¢5.00 per litre while others are still in the GH¢4.85 threshold at some other stations. Ahead of the next week’s increment, the Institute for Energy Security (IES) had projected fuel prices on the local market to increase marginally in the first pricing window of January 2021. According to the IES, for the period under review, fuel prices have appreciated locally. “
Price of petroleum products within the second Pricing-window of December 2020 saw majority of Oil Marketing Companies (OMCs) increasing prices of Gasoline and Gasoil at the pump. The current national average price of fuel per litre at the pump is pegged at GH¢4.79,” the IES earlier explained.