The National Petroleum Authority (NPA) NPA has informed all Oil Marketing Companies (OMCs) and LPG Marketing Companies (LPGMCs) that the Price Stabilisation and Recovery Levy from Petroleum Price (PSRLS) have been revised for the period 1st April – 30th June 2024.
According to the NPA, the Ministry of Finance through Ministry of Energy has directed it to remove the Price Stabilisation and Recovery Levy (PSRL) from the Price Build-Up in accordance with section 2 (b) of the Energy Sector Levies Act 2015 (Act 899) amended 2021, Act 1064 for three months.
According to the PSRL, the PSRL on products like Petrol, Diesel and LPG would be rated at nil or zero.
A press release signed by Curtis Perry Kwabla Okudzeto, Deputy Chief Executive, on behalf of the Chief Executive directed all Oil Marketing Companies (OMCs) and Liquefied Petroleum Gas Companies (LPGMCs) to take note of the above revision of the PSRL and apply them in their Price Build-Ups effective 1st April – 30th June 2024.
“This intervention from the government is to insulate consumers from paying high costs of fuel at the pumps due to rising global prices,” the release stated.
