The Minority Spokesperson on Mines and Energy, Mr Adam Mutawakilu, has urged the government to withdraw the 100 per cent upward adjustment in the prices of petroleum products announced by the National Petroleum Authority (NPA).

He said the increase of the Bulk Oil Storage and Transportation Company Limited (BOST) margin in the price build-up of petroleum products was unnecessary at a time when many Ghanaians were facing economic hardships triggered by COVID-19.

Addressing the press in Parliament last Tuesday, Mr Mutawakilu said: “There is no basis on which BOST margins should be increased 100 per cent, considering the management of BOST in its management of the country’s fuel.”

He said the management of BOST had not been able to prove how much they had used the GH¢0.30 per litre given them prior to the increase of the margin.

“We, therefore, call on President Nana Addo Dankwa Akufo-Addo to, as a matter of urgency, withdraw such increased margins, especially as Ghanaians are suffering from the impact of COVID-19,” he said.

Announcement

On May 31, the NPA announced an increase of BOST margin in the price build-up of petroleum products which would cause consumers of petroleum products to pay an additional GH¢0.30 per litre for the fuel they purchase at the various pumps from June 1, 2020.

The authority, in a statement, said the review in the price was approved by Cabinet.

Currently, a litre each of petrol and diesel has a BOST Margin of GH¢0.30 but that has now increased to GH¢0.60.

Clandestine deprivation

Mr Mutawakilu said the Minority had realised that while President Akufo-Addo was giving relief to Ghanaians as a result of COVID-19, the government had behind the scenes increase levies, taxes and margins.

“The first attempt was to increase fuel marking margin. They moved to cylinder recovery margins and they introduced VAT on electricity and now we are in BOST margin. This is a clear move by the President to ensure that whatever benefit is due Ghanaians as a result of COVID-19 is collected with the left hand after giving it to Ghanaians in the right hand,” he said.

Kicking against the assertion by the NPA that the margins given BOST was insignificant, the Member of Parliament for Damango strongly disagreed, saying the increase was per litre and not per barrel.

“If you look at it per litre you will consider that it is marginal but if you look at the cumulative effect, the number of litres one consumes is a lot. For example, we consume about 10 litres in a day and if you multiply this by GH¢0.60 that is huge money that we are paying,” he said.