The Institute for Energy Security has urged the government to suspend the Price Stabilisation and Recovery Levy. This call comes as global oil prices continue to climb upwards.
IES believes this action will help ease the financial pressure on consumers. The rising cost of fuel at the pumps is a growing concern for many households.
The Price Stabilisation and Recovery Levy is part of the taxes added to petroleum products. It is intended to help manage fuel price fluctuations.
However, with significant increases in the international market, the levy adds an extra burden. IES argues that suspending it would provide some relief.
The institute highlighted that consumers are already struggling with economic challenges.
IES hopes the government will consider their proposal. They feel this is a necessary step to support Ghanaians during this period of high energy costs.