LPG prices to increase every two weeks -Mr. Gabby Kumi

The latest update from the LPG Marketers Association is that the LPG prices increase every two weeks.

The Vice President of the LPG Marketers Association, Mr. Gabby Kumi has projected that consumers of Liquified Petroleum Gas (LPG) should expect prices to be increased every two weeks.

In an interview on Joy Prime’s morning show Prime Morning monitored by Newsghana24, Mr. Gabby Kumi said Ghanaians are not able to fill their cylinder to the brim due to the price hikes. “People are not able to fill their cylinders…They cannot afford it, he said.

According to him, Ghanaians who go to the LPG outlets buy LPG in tots as though they have gone to the drinking spot. This is blamed on the continuous rise in prices which he feared would collapse their business and lead to the laying off of some staff.

He called on the government to deal with the continuous price hikes adding that, the LPG Marketers Association has called on the government to scrap off all taxes on LPG  to save the consumer from the constant increase in prices at the fuel pumps

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The price of LPG has been increased as of yesterday 1st February 2021. The continuous depreciation of the Ghana cedi against major currencies, the increase in the world prices of crude oil, and the high taxes imposed on crude oil products by the government contribute to the hike in prices.

Mr. Kumi stated that LPG has up to 20% tax element in the price which makes the consumer suffer.

The association fears that demand for the product will fall if the purchasing power of the consumer does not improve. He added that most consumers of LPG earn as low as GHS500.00 and the price of 14.5 kg is about GHS125 which will shoot up to about 135GHS.

The cost of a 14.5-kilo gas bought at the pump is over 25% of the income of the ordinary Ghanaian.

With the constant presence of tax and the price also moving up, Ghanaians will be charged more for the product.

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He called on the government to single out LPG and suspend all taxes on it if it wants to increase the consumption of LPG. The current price of LPG per Kilo is hovering around GHS8.70 and prices have been projected to increase every two weeks which will lead to a two months price of GHS10.00 per Kilo litter.