Tag: COPEC
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Drivers unhappy with imminent fuel price increase
Commercial vehicle operators in the capital, Accra have raised concerns about an expected increase in fuel prices in the coming days. Already a major player in the Fuel retail space, Total, has adjusted its prices upwards with petrol now selling at GHS6.8 and diesel GHS6.85. This is an increase from an earlier price of GHS6.65…
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Expect about 20 pesewas increase in fuel prices soon – COPEC
The Chamber of Petroleum Consumers Ghana (COPEC) is projecting fuel prices may go up by about 20pesewas in the coming days. This development is based on a number of factors that have impacted global fuel pricing. Fuel prices currently sell at about GHS 6.6 at the pumps. But there is an expected change in the…
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COPEC reiterates calls for review of petroleum taxes to reduce fuel prices
The Chamber of Petroleum Consumers (COPEC) has reiterated calls for the government to remove the Price Stabilisation and Recovery Levy to avert the consistent increase in prices of petroleum products. Prices of fuel, particularly petrol, have increased from $694/MT as of 13th September 2021 to above $720/MT as of 16th September 2021 representing a 3.7%…
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COPEC blames recent fuel price hikes on cedi depreciation
The Chamber of Petroleum Consumers says the current increase in fuel prices is largely due to the recent depreciation of the Ghana Cedi. Fuel prices at the pumps of major oil marketing companies shot up from about GH¢6.28 to GH¢6.35 over the weekend, an increase that many consumers have expressed concern over. In an interview…
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Fix TOR and BOST to cushion consumers from fuel price hikes – COPEC
As fuel prices continue to rise at the pumps, the Chamber of Petroleum Consumers (COPEC) says the situation will not change until institutions like the Tema Oil Refinery (TOR) and the Bulk Oil Storage and Transportation Company Limited run at full capacity. According to COPEC, once the entities commence operations, they should be able to…
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Cap taxes on fuel to prevent introduction of new levies – COPEC to Parliament
The Chamber of Petroleum Consumers (COPEC), is calling on Parliament to pass a legislation that will ensure that the quantum of taxes placed on petroleum products doesn’t exceed a certain threshold. The comments follow notice of the implementation of the new tax policies introduced in the 2021 budget statement from 1st May, which according to…
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Parliament’s Mines, Energy and Finance committees must review fuel taxes – COPEC
The Chamber of Petroleum Consumers (COPEC), is calling on Parliament’s Mines and Energy and Finance Committees to review the government’s proposal of a new petroleum tax. Following the passage of the 2021 budget, the various committees in Parliament are set to debate aspects of its appropriations to the sectors. Meanwhile, speaking to the Citi Business…
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Don’t approve new fuel levies – COPEC to MPs
The Chamber of Petroleum Consumers (COPEC) has asked that Members of Parliament throw out the new levies on petroleum products. According to the Executive Secretary of COPEC, Duncan Amoah, there are loopholes in the revenue generation of the state that the Finance Ministry needs to find solutions to rather than bringing in new levies. “I…
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Fuel price hikes: COPEC demands review of price stabilisation levy
The Chamber of Petroleum consumers (COPEC) is calling for a review of the Price Stabilisation Levy to minimise the impact of the surge in fuel prices on consumers. Oil prices have seen a significant increase over the last few weeks with some oil marketing companies currently selling a litre of petrol for GHS5.35. According to…
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Make appointments to petroleum-sector boards now – COPEC to government
The Chamber of Petroleum Consumers, COPEC, is calling for appointments to the boards of petroleum and oil-related sectors to be hastened up. According to the Chamber, the role of these institutions in the management of the sector cannot be underestimated hence the advice. The various boards and corporations were earlier dissolved in accordance with the…