Reacting to the recent increment on Tuesday, the Executive Secretary of the Chamber of Petroleum Consumers (COPEC), Mr Amoah, told\u00a0JoyNews\u00a0that the reintroduction of the Price Stabilisation and Recovery Levies (PSRL) by the National Petroleum Authority (NPA), is an insensitive decision.<\/p>\n\n\n\n
According to him, the NPA\u2019s decision will affect consumers, and pose economic difficulties for them.<\/p>\n\n\n\n
\u201cWhat it means in simple terms is that your fuel prices will go up by that margin: 16 pesewas for petrol, 14 pesewas for diesel, 14 pesewas for LPG. We think this is very insensitive and badly timed. Insensitive to the extent that, you have for the first time in 28 years, where crude prices have crossed 90 dollars. Mostly in January, crude prices decelerate or decline.<\/p>\n\n\n\n
\u201cYou see prices drop around this time, because of [trading] between Russia and Ukraine, and also undersupply by the OPEC block, there\u2019s a lot of pressure on crude. Prices are going up already. We complain a lot. The driver unions complain a lot. Following which the President of the Republic gave a directive that the Stabilisation and Recovery Levy, one of the levies that we had all requested to be reduced, should be zeroed. The thinking would have been that we would wait for prices to ease a bit,\u201d he stated.<\/p>\n\n\n\n
Meanwhile, the Coalition of Transport Operators has disclosed that starting from Monday, February 7, transport fares will be increased by 30%.<\/p>\n\n\n\n