Reduce LPG prices now – COPEC

After the prices of several petroleum products decreased in the most recent pricing window, the Chamber of Petroleum Consumers (COPEC) Ghana is requesting a considerable decrease in the costs of liquefied petroleum gas (LPG).

The Chamber’s request comes after fuel and gasoline prices decreased by nearly 8% on January 1, 2023.

LPG costs, however, did not alter. High tariffs, according to the LPG Marketers Association of Ghana, are to blame.

Duncan Amoah, Executive Secretary of COPEC, however, claimed that there is no rationale for LPG rates to stay the same in an interview with OTECNEWS.

“LPG should have seen the highest decline in terms of price per kilogram which should be around 20% in the past windows. We don’t think there is enough justification at this point that they are not going to reduce the price of LPG at this point”.

He continued by saying that his business will soon contact LPG Marketers to discuss potential product price reductions.

“We will strive to engage them as soon as possible to ensure that what is now owed to the consumer is not withheld from them just because of the demand for lower LPG tax rates.”

LPG prices won’t decrease unless some taxes are reduced, according to Gabriel Kumi, vice president of the Ghanaian LPG Marketers Association.

He contends that government should establish crucial measures to encourage companies in the business rather than letting market forces like demand and supply set LPG pricing.

Source: Ghanatodayonline.com