The Institute for Energy Security (IES) predicted that fuel is likely to go up by GH¢9.00 per litre by the middle of March 2022.
Speaking to a research analyst with the institute for energy security Fritz Moses, on Ahotor Fm “Asem Yi Di Ka” he predicted a four percent (4%) increase in the prices of liquefied Petroleum Gas (LPG), Diesel, and Petrol at the pumps in the first pricing window of March.
He stated that, another cause of increment in fuel price is the depreciation of the cedi against the dollar.
“A week ago a dollar was about GH¢ 6.23 but now around GH¢7.40 and if this is not controlled we will suffer it at the fuel pumps”. He said.
Fritz Moses, continued that apart from the weak nature of the cedi, the tax components on fuel products is part of the increment and for this reason the taxes should be managed since the international prices are also high.
The latest price Stabilization Recovery Levy government slapped on a litre of fuel is one of the many Levies which have increased the price of fuel in country and is projected the price could still go higher.
BERNICE ELORM KUTSOKE
