Accra High Court rules for reduction in fuel prices
Fuel prices are due go down by much as 95 pessewas on a gallon of fuel after an Accra High Court delivered a landmark ruling that declared the “ex-refinery differential tax” in the petroleum pricing formula as illegal.
The Accra High Court yesterday ordered the National Petroleum Authority (NPA) and the Tema Oil Refinery (TOR) to remove the ex-refinery differential component of the petroleum pricing formula.
The ruling made by Justice Patrick Bayerh, in favour of Kweku Kwarteng an NPP parliamentary candidate for Obuasi means the NPA is under compulsion to announce new fuel prices that takes into account the removal of the ex-refinery differential.
The reductions are as follows; diesel will be reduced by 95 pesewas per gallon, petrol, 29p per gallon, kerosene, 42p per gallon, LP Gas 8p per kilo and MGO local 69p per gallon.
The NPA has also been given four months to announce the surplus income accrued from the illegal ex-refinery differential tax since 2009 and deposit the amount into the consolidated fund.
Development Data, a policy research and advocacy think tank that brought the case in 2009 say the total income generated since then could be in excess of 690 million Ghana cedis.
Mr Kwarteng took the matter to court two years ago to challenge the propriety of the tax. He claimed that the ex-refinery differential component of the ex-refinery price imposed by NPA and TOR on June 5, 2009 was illegal and that the ex-pump prices announced by the first defendant on June 5, 2009, on the basis of the ex-refinery prices referred to, were not in accordance with the prescribed petroleum pricing formula and therefore unlawful.
By: e.tv Ghana
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