Mid-year budget review : Petrol, diesel up by GHp20

By Justice Kofi Bimpeh
Fuel prices goes up

The Finance Minister, Ken Ofori Atta, has announced an increment in the Energy Sector Levies.

Presenting the 2019 midyear budget review to Parliament on Monday July 29, Mr. Ofori Atta announced that Ghanaians will have to pay GHp20 more for a litre of petrol and diesel and GHp 8 more for a kg of LPG.

“Mr. Speaker, you may recall that Government in 2017 issued the Energy Sector Levy Act (ESLA) Bond, which has, to date, raised almost GHS 6 billion on the back of ESLA levies to pay for legacy debts from the NDC’s “dumsor days”.

“The bond proceeds were used to liquidate approximately 60% of the energy sector legacy debts. Government proposes to increase the Energy Sector Levies by GHp 20 per litre for petrol and diesel and GHp 8 per kg for LPG, so as to increase the inflows to enable Government issue additional bonds to pay down our energy sector debt obligations.

“Based on current indicative prices for petrol and diesel this translates to GHp 90 per gallon.”