The Institute for Energy Security is urging the government to lift the Price Stabilisation and Recovery Levy. This call comes as global oil prices see a significant rise.
IES believes suspending this levy will provide much-needed relief to consumers. They stated that the current economic conditions make fuel unaffordable for many.
The levy is intended to help manage fluctuations in fuel prices. However, with prices climbing globally, IES argues it now adds an unnecessary burden.
The organization has formally requested government action on this matter. They hope this will help ease the financial strain on households and businesses.
Details regarding the government's response to this request are pending.
No official comment from the Ministry of Finance has been released on whether the levy will be suspended.