Business News of Thursday, 3 March 2022
Source: www.ghanaweb.live
2022-03-03LPG prices increase by 5% from March 3
LPG is now selling at GH¢9.76 per kilogram
LPG now selling at GH¢9.76 per kilogram
Cedi depreciation causes spike in goods and serves
NPA restores Price Stabilisation and Recovery Levy on fuel products
Consumers of Liquified Petroleum Gas (LPG) are expected to witness a 5 percent upward adjustment effective March 3, 2022.
This comes after the Price Stabilisation and Recovery Levy on petroleum products
Read full articlewas restored by the National Petroleum Authority (NPA) after it was earlier suspended to cushion consumers.
Vice President of the LPG Marketers Association, Gabriel Kumi, reacting to the price adjustment said the Cedi struggles against major trading currencies is also to blame for the increment.
“Once the cost keeps moving up and you have constant taxes and levies, you expect that the price will continue to go up,” Kumi is quoted by Joy Business.
Currently, prices of LPG are now selling at GH¢9.76 per kilogram, translating to about GH¢140 for a 14.5 kg cylinder.
Earlier in the first pricing window for January this year, prices of LPG moved from GH¢7.89 to GH¢8.12 per kilogram in December 2021 while going up to GH¢8.22 per kilogram in the second pricing window of January 2022.
For the second pricing window of February, prices of LPG increased to GH¢8.60 per kilogram and further increased to GH¢9.29 per kilogram in the second pricing window of February 2022.