Fuel prices will go down by ¢1 if needless ‘borla’ tax, BOST Margin, SPT are removed – Sammy Gyamfi

National Communications Officer of the National Democratic Congress (NDC) Sammy Gyamfi has called for the removal of some taxes on petroleum products.

In his view, the taxes, including 10 pesewas Sanitation and Pollution tax, BOST Margin, Special Petroleum Tax, are not needed at the moment.

Speaking in an interview with TV3’s Roland Walker on Wednesday March 23, Sammy Gyamfi said “Some of the taxes don’t make sense. In this time of economic difficulty we should not be paying a 10 pesewas sanitation and pollution, I call it ‘borla’ levy, on a litre of diesel and petrol, we don’t need a BOST margin of 9 pesewas.

“Most of these taxes, 80 to 90 per cent of these taxes are not needed now. Special Petroleum Tax, former President Mahama introduced it at the time the international market price was going down. We said we were going to collect it for just two years and when the international market prices go up, we will bring it back.

“At the time the international market price had gone down below 30 dollars and so we were losing in terms of our oil exports. Now, the prices have gone up to about 100 and 120 dollars per barrel when this year 2022, we benchmarked it at 61 dollars per barrel. if we are to scrap these taxes, I tell you, that the litre of diesel and petrol will come down by minimum ¢1.”