Business

LPG price up 5% after fuel price, transport fare hikes

LPG consumers will, henceforth, be paying 5 per cent more for the same quantity of the fuel they purchased previously, as the price of the commodity shoots up from today, Thursday, 3 March 2022, as a result of the restoration of the Price Stabilisation and Recovery Levy (PSRL) on fuel products.

The PSRL is GHp0.16 per litre of petrol, GHp0.14 per litre of diesel, and GHp0.14 per kilogramme of LPG.

It was zeroed for a few months by the government to cushion consumers from the skyrocketing prices of fuel at the pumps but was restored a few weeks ago.

LPG now sells at GHp9.76 per kilogramme.

The Vice-President of the LPG Marketers Association, Mr Gabriel Kumi, has told the media “once the cost keeps moving up and you have constant taxes and levies, you expect that the price will continue to go up.”

The LPG marketers say the price hikes are affecting them.

“Business is not doing too well because if you look at the statistics, the consumption of LPG is on a serious decline. So, if measures are not taken, and the price continues to go up as it is going now, there will be a lot of negative consequences.”

“Today, some of our members have started laying off workers, and we are not growing. The consequences are quite dire,” Mr Kumi complained.

Source: Classfmonline.com

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