• About us
  • Donate
  • WADR
  • Contact us
  • Live Stream
Thursday, June 5, 2025
Loud Silence News
Advertisement
  • Ghana News
    • General News
    • Business
    • Education
    • Opinion
  • US News
    • Business
    • Health
    • Human Interest Stories
    • Politics
    • Education
  • Africa News
    • Business
    • Education
    • Health
    • Politics
  • ShowBiz
    • Ghana ShowBiz
    • US Showbiz
    • African ShowBiz
    • World Showbiz
  • Editorials
    • People
  • World News
    • Politics
    • Business
    • Education
    • Health
  • Sports
    • Ghana Sports
    • World Sports
  • WADR
No Result
View All Result
  • Ghana News
    • General News
    • Business
    • Education
    • Opinion
  • US News
    • Business
    • Health
    • Human Interest Stories
    • Politics
    • Education
  • Africa News
    • Business
    • Education
    • Health
    • Politics
  • ShowBiz
    • Ghana ShowBiz
    • US Showbiz
    • African ShowBiz
    • World Showbiz
  • Editorials
    • People
  • World News
    • Politics
    • Business
    • Education
    • Health
  • Sports
    • Ghana Sports
    • World Sports
  • WADR
No Result
View All Result
Loud Silence News
No Result
View All Result
Home Ghana News Ghana Business

Price of LPG goes up by 5%

News Reporter by News Reporter
March 3, 2022
in Ghana Business
0
31
SHARES
170
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp

The Liquefied Petroleum Gas (LPG) price will experience a 5% adjustment from today, March 3, 2022.

This follows the restoration of the Price Stabilisation and Recovery Levy (PSRL) on fuel products.

You might also like

Cedi loses value for about 25.8% against the Dollar – BoG report

High taxes crippling our businesses – Ghana Hotels Association cries

No More Talks, when fuel prices increase we will also increase fares – Commercial drivers

The restored PSRL is ¢0.16 pesewas per litre on petrol, ¢0.14 per litre on diesel, and ¢0.14 per kilogram on LPG.

Experts have warned the restored PSRL and its attendant increase in the price of LPG will further decrease the commodity’s consumption rate and worsen the plight of the ordinary consumer.

LPG is now ¢9.76 per kilogram, translating to about ¢140 for a 14.5 kg cylinder.

The vice president of the LPG Marketers Association, Gabriel Kumi, has blamed the development on the cedi’s poor performance.

According to him, “once the cost keeps moving up and you have constant taxes and levies, you expect that the price will continue to go up.”

In the first pricing window, the price moved from ¢7.89 to ¢8.12 in December 2021. In the second window of January 2022, it went up to ¢8.22.

In the first window of February 2022, the price went up to ¢8.60 and went up again in the second window to ¢9.29.

Currently, the price stands at ¢9.76.

The LPG Marketers Association say the rapid change in prices is affecting their business due to the declining consumption rate of LPG.

“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,” Gabriel Kumi added.

Government has set an agenda to make the product accessible to many by increasing consumption of the commodity from 25% to 50% by 2030.

But many have argued this objective may not be achievable, considering the speed with which the commodity price is skyrocketing.

Meanwhile, the National Petroleum Authority (NPA) has said it is discussing with the Finance and Energy Ministries to find a manageable solution to the persistent rise in fuel prices.

It says the engagements will largely discuss the possible removal of some taxes on petroleum products.

The Head of Pricing at the National Petroleum Authority (NPA), Abass Ibrahim Tasunti, says the NPA has presented some proposals to Cabinet for consideration.

“We have made some recommendations to the government as to what it can do, but it all depends on the government’s fiscal space. So for us, we look at what can be done to look at the laws available to us.

Of all the taxes, which one could have been touched? From the law, the Price and Stabilisation and Recovery Levy is the one that could have been used to support the consumer. Our work is to make sure there is fair pricing,” he told JoyNews.

Meanwhile, the Energy Ministry has said Ghanaians will pay back whatever government spends as subsidies.

According to the Deputy Minister, Andrews Agyapa Mercer, this calls for a conversation that ought to be had among stakeholders as the country strives to fashion out a solution to the problem.

It’s a process that has commenced. The NPA has sent the letter to us, and we’ve forwarded it to the appropriate authorities; it’s going to be deliberated, and then whatever decision is taken is going to be in the best interest of all of us.”

“If that decision is taken that government has to subsidise fuel, we all ought to know that post the issues being resolved, prices coming down, whatever amount of money government would have expended would still have to be paid back by all of us,” he said.

Source: JoyNew

Previous Post

WADR: The BOST Rot Part-2

Next Post

Roman Abramovich announces decision to sell Chelsea Amidst Russia-Ukraine crisis

News Reporter

News Reporter

Related Posts

Cedi loses value for about 25.8% against the Dollar – BoG report
Ghana Business

Cedi loses value for about 25.8% against the Dollar – BoG report

by News Reporter
November 27, 2023
High taxes crippling our businesses – Ghana Hotels Association cries
Ghana Business

High taxes crippling our businesses – Ghana Hotels Association cries

by News Reporter
October 23, 2023
No More Talks, when fuel prices increase we will also increase fares – Commercial drivers
Ghana Business

No More Talks, when fuel prices increase we will also increase fares – Commercial drivers

by News Reporter
November 3, 2022
4More To Do More: Prices of coffins and caskets in Kumasi to increase from next week
Ghana Business

4More To Do More: Prices of coffins and caskets in Kumasi to increase from next week

by News Reporter
November 3, 2022
Ghana’s 2023 Budget To Delay Because Ofori Atta Gave wrong Figures to IMF
Ghana Business

Ghana’s 2023 Budget To Delay Because Ofori Atta Gave wrong Figures to IMF

by News Reporter
November 3, 2022
Next Post

Roman Abramovich announces decision to sell Chelsea Amidst Russia-Ukraine crisis

Recommended

Penguin Meets Up With Orangutan During Excursion In Empty San Diego Zoo

Penguin Meets Up With Orangutan During Excursion In Empty San Diego Zoo

May 1, 2020
CIA warned employees against Trump’s wonder drug

CIA warned employees against Trump’s wonder drug

April 14, 2020

Categories

  • African Business
  • African Education
  • African Health
  • African News
  • African Politics
  • African ShowBiz
  • Education
  • Ghana Business
  • Ghana News
  • Ghana ShowBiz
  • Ghana Sports
  • Human Interest Stories
  • News
  • Opinion
  • People
  • ShowBiz
  • Social Trends
  • US Business
  • US Education
  • US Health
  • US News
  • US Politics
  • US Showbiz
  • WADR
  • World Business
  • World News
  • World Politics
  • World Showbiz
  • World Sports

Don't miss it

President Mahama Unveils 24-Hour Economy Plan, Set to roll out in July
Ghana News

President Mahama Unveils 24-Hour Economy Plan, Set to roll out in July

May 28, 2025
Unmasking the Propaganda Machine: The Coordinated Smear Campaign Against Dr. Anne Sansa Daly
Ghana News

Ghana’s Medical and Dental Council Clarifies Stance on Dr. Anne Sansa Daly’s Certification

May 26, 2025
Nii Armah Amarteifio Apologizes to Dr. Daly
Ghana News

Nii Armah Amarteifio Apologizes to Dr. Daly

May 24, 2025
Unmasking the Propaganda Machine: The Coordinated Smear Campaign Against Dr. Anne Sansa Daly
Ghana News

Unmasking the Propaganda Machine: The Coordinated Smear Campaign Against Dr. Anne Sansa Daly

May 23, 2025
Legal Notice: Demand for Retraction of Defamatory Publication
Ghana News

Legal Notice: Demand for Retraction of Defamatory Publication

May 23, 2025
Legal Notice: Demand for Retraction of Defamatory Publication
Ghana News

Legal Notice: Demand for Retraction of Defamatory Publication

May 23, 2025

About Us

LOGO

Loud Silence Radio & TV Network and is a multi media production company focusing on Ghanaian and African news.

Contact

  • Alexandria, Virginia, USA
  • +1 212-602-9641
  • loudsilenceradio@gmail.com
Facebook Twitter Youtube Linkedin

Download App

google play store

© 2021 Loud Silence Media. All rights reserved.

  • About us
  • Contact us
  • Donate
  • Live Stream
  • Privacy Policy
  • Terms of Use
Menu
  • About us
  • Contact us
  • Donate
  • Live Stream
  • Privacy Policy
  • Terms of Use
No Result
View All Result
  • Ghana News
    • General News
    • Business
    • Education
    • Opinion
  • US News
    • Business
    • Health
    • Human Interest Stories
    • Politics
    • Education
  • Africa News
    • Business
    • Education
    • Health
    • Politics
  • ShowBiz
    • Ghana ShowBiz
    • US Showbiz
    • African ShowBiz
    • World Showbiz
  • Editorials
    • People
  • World News
    • Politics
    • Business
    • Education
    • Health
  • Sports
    • Ghana Sports
    • World Sports
  • WADR
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.