The Institute for Energy Security (IES) has called on the government to suspend a specific tax on fuel. This call comes as the prices of oil on the global market continue to rise significantly.
The tax in question is the Price Stabilisation and Recovery Levy. IES says this levy adds to the cost of fuel for everyday people.
IES believes that suspending this tax would provide much needed relief to consumers. Many Ghanaians are finding it harder to afford fuel because of the international price hikes.
The institute argues that the government should act to lessen the financial burden on the public. They suggest the suspension of the levy as a direct way to achieve this.
Global oil prices affect the cost of refined fuels imported into the country. When these prices go up, fuel stations often have to charge more.
The Price Stabilisation and Recovery Levy is part of the government's mechanism to manage fuel price fluctuations. However, IES feels it is currently contributing negatively to current affordability issues.
The institute's request highlights the ongoing challenge of balancing government revenue needs with the economic pressures faced by citizens.