The Liquified Petroleum Gas (LPG) has seen an upward increment in its prices by 5% which indicates that consumers of the product will have to pay 5% more from the previous price starting on 3rd March.
The new development is due to the restoration of the Price Stabilisation and Recovery Levy (PSRL) on fuel products.
The restored PSRL on LPG stands at GHS0.14 per kilogram.
LPG is now GHS9.76 per kilogram which indicates that a 14.5kg cylinder is selling at about GHS140 following the restoration of the PSRL.
The Vice President of the LPG Marketers Association, Gabriel Kumi, blamed the poor performance of the cedi to the US dollar as the cause of the sudden increment while speaking in an interview.
“Once the cost keeps moving up and you have constant taxes and levies, you expect that the price will continue to go up,” he said.