Price Stabilisation and Recovery Levy Still Zero Rated- NPA

The National Petreoleum Authority (NPA) has announced that it has extended the zeroing of Price Stabilisation and Recovery Levy (PSRL) from the Petroleum Price Build-Up to 31^st January 2022.

This was contained in a letter dated 11^th January 2022. It was signed by Mustapha Abdul-Hamid, Ph.D, Chief Executive of NPA.

The NPA referred to its letter dated 22^nd October 2021 on the  matter of the “Removal of Price Stabilisation and Recovery Levy from the Price Build-Up (PBU) Effective 1^st November 2021”. The NPA stated that the directive to remove the PSRLs on petrol, diesel and LPG as per this letter expired on 31^st December 2021.

The National Petroleum Authority (NPA) therefore informed all Oil Marketing Companies (OMCs) and LPG Marketing Companies (LPGMCs) that His Excellency the President of the Republic of Ghana, through the Ministry of Finance and the Ministry of Energy, has directed the National Petroleum Authority to extend the zeroing of the PSRLs on petrol, diesel and LPG for another month (i.e. from 1^st – 31^st January 2022).

“This is in line with Section 5 (2b) of the Energy Sector Levies Act 2015 (Act 899), as amended, which allows the use of the PSRL to stabilise petroleum products prices for consumers.

In view of the above directive, all Oil Marketing Companies (OMCs) and LPG Marketing Companies (LPGMCs) were informed that the PSRLs in the PBU for the period 1^st – 31^st January 2022, for petrol, diesel and LPG were to be indicated at nil.

“All Oil Marketing Companies (OMCs) and Liquefied Petroleum Gas Companies (LPGMCs) are to take note of the above and apply them in their PBUs for the period under consideration,” the letter said.

It was distributed to all Oil Marketing Companies (OMCs), all LPG Marketing Companies (LPGMCs), and all Bulk Distribution Companies (BDCs).

The letter was copied to the Hon. Minister, Ministry of Energy, Accra, the Hon. Minister, Ministry of Finance, Accra, the Industry Coordinator, Association of OMCs (AOMCs), Accra, and the Chief Executive Officer, Ghana Chamber of Bulk Oil Distributors (CBOD), Accra.