The Member of Parliament for Effia, Isaac Yaw Boamah-Nyarko, has called on the government to scrap the GH₵1 fuel levy to cushion Ghanaians against expected fuel price increases driven by rising global tensions.
Speaking on Metro TV’s Good Morning Ghana programme on March 18, Mr Boamah-Nyarko warned that the ongoing conflict involving the United States and Iran could push petroleum prices higher, worsening the cost of living. He urged the government to act swiftly to ease the burden on citizens.
“The government should scrap the 1 cedi fuel levy to bring relief to Ghanaians,” he said, stressing the need for immediate intervention as pressure builds on households and businesses.
His call comes amid growing public concern over the rising cost of fuel and its ripple effects on the economy.
Industry observers and analysts say higher pump prices are already feeding into inflation and increasing transportation costs, with potential consequences for overall economic stability.
Critics have also raised concerns about the lack of clarity in official explanations for fuel price hikes. While authorities often point to global developments and currency movements, some analysts argue that the details remain insufficient.
According to the legislator, a clearer communication on the true cost implications would help the public better understand the situation.
Fuel taxation has become a key point of debate. Observers estimate that taxes make up between 30 and 40 percent of the pump price, while petroleum-related levies account for more than half of the total cost. Despite this, experts caution that even if taxes are reduced, prices may not fall significantly due to persistent inflation and transport costs.
As prices continue to climb, pressure is mounting on the government to outline concrete measures to stabilise the market and protect consumers.
Analysts and citizens are calling for clear policies and support mechanisms to address the impact of rising fuel costs in the months ahead.
With the economic strain intensifying, stakeholders are demanding decisive action and greater transparency on how the government plans to manage the situation.
Source: metrotvonline.com
