Fuel Prices Set to Drop as Cabinet Instructs Ministers to Eliminate Taxes
The Minister of Government Communications, Felix Kwakye Ofosu has disclosed that Cabinet has directed the Finance and Energy ministers, Cassiel Ato Forson and John Jinapor to remove taxes and margins on fuel prices.
The government has announced that the removal of certain taxes and margins on petroleum prices will take effect from the next fuel pricing window. The decision was made during an emergency Cabinet meeting held on April 9.
According to the Government Spokesperson, the Finance and Energy Ministers have been directed to implement the tax reductions immediately in the upcoming pricing period. He explained that the measure is expected to lead to a decrease in fuel prices for an initial period of four weeks, after which the situation will be reviewed to determine the next steps.
He noted that the intervention is intended to cushion commuters and the general public from the impact of rising fuel prices linked to the ongoing conflict involving the United States, Israel, and Iran. Despite recent economic improvements, fuel prices have continued to increase, making the government’s action necessary.
In addition, Cabinet has instructed the Transport Minister to quickly deploy the newly imported 100 Metro Mass buses to busy traffic routes across the country. Another 100 buses are expected to arrive in August, with a final batch scheduled for November, bringing the total number to 300 buses.
The government also directed that fares charged by Metro Mass buses should remain lower than those of private transport operators to help reduce the burden on passengers, especially during peak travel hours. Furthermore, the President reminded all ministers and senior government officials to strictly comply with the ban on fuel allowances and fuel allocations as part of ongoing cost-saving measures.
