Energy Minister, John Peter Amewu has justified the increment in fuel prices insisting that the current administration has managed the situation better.
Ghanaians he said would have paid more if former President John Dramani Mahama was in power.
At a press conference Thursday, the Energy Minister said the ruling party has reduced the Special Petroleum Tax (SPT) twice.
In March 2017, the 17.5% tax was slashed to 15% and in February 2018, it was reduced further to 13%.
“Ghanaians would be paying close to between 9% to 10% higher than the current prices”.
“Prices today would have been GHS5.54 for petrol and GHS5.55 for diesel,” he added. The prices for both products are currently GHS5.12.’’
Meanwhile, the Minority in Parliament has asked government to he special petroleum tax as a measure to cushion Ghanaians as the prices of petroleum products keep rising.
The Minority Spokesperson on Mines and Energy, Adam Mutawakilu, has said the tax has outlived its usefulness.
“In the 2018 budget, this [Akufo-Addo] government presented to Parliament a benchmark price [the price at which we sell our oil] of $57 per barrel. But as we speak now, the price per barrel is $77 per barrel. That means government is making surplus of $20 per barrel. And currently we produce at almost 200,000 barrels. So if you multiply this $20 barrel excess by 200,000 we are talking about $10 million surplus every day.”
“That means every day government is making surplus of $10 million. By this, the special petroleum tax has nowhere to fill in the gaps in respect to the oil prices. And that is why we are calling on President Nana Akufo-Addo to as a matter of urgency scrap the special petroleum tax. Currently, it’s about 46 pesewes per litre, and if it’s about 5 litres a gallon, you are talking about Ghc2.2. If you calculate it as a percentage that’s about 10%,” he added.