Comprehensive  Ghana Oil and Gas news, information, updates, analysis


News in Brief

NPA directs OMCs to begin charging reduced prices for petroleum products today

  • SOURCE: myjoyonline.com | Joy FM
  • The National Petroleum Authority (NPA) has directed Oil Marketing Companies (OMCs) to implement the amended Special Petroleum Tax (SPT) Act which reduces the tax by 2%.

    The amendment also converted the SPT from a 15
    % ad valorem to a 13% specific tax, which means a specific amount will now be charged for a litre of petroleum product.

    Per the new pricing regime, the SPT on petroleum products effective from Friday, February 16, 2018, will be as stated below.

    New-SPT

    Parliament on Thursday passed the bill following agitations by Labour and the Chamber of Petroleum Consumers (COPEC) against rising fuel prices.

    COPEC says the reduction is welcome news but it had hoped for a total scrapping of the controversial tax.

    The SPT was introduced in 2014 in reaction to the falling price of crude oil on the international market, but it still remains in the books despite a stable price for the commodity.

    Profile photo of Joy FM

    Joy FM

    Joy FM is a privately owned radio station in Accra, the capital of Ghana and owns https://www.myjoyonline.com/ghana-news/ .The station is owned and run by Multimedia Group Limited.
    Profile photo of Joy FM

    Share this article

    Leave a reply

    Personality of the Month
    Poll

    Do you think the President should fund the free SHS with oil revenue?

    Follow Us Online
    About Us
    Reporting Oil and Gas project was launched on 4th June 2009 at Takoradi, Western Region, Ghana by Penplusbytes (www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector read more
    Events Calendar
    << Aug 2018 >>
    MTWTFSS
    30 31 1 2 3 4 5
    6 7 8 9 10 11 12
    13 14 15 16 17 18 19
    20 21 22 23 24 25 26
    27 28 29 30 31 1 2
    Twitter Activity Stream
     

    Partners We are proud to be associated with:

    Skip to toolbar