The Ghana Trades Union Congress (GTUC) on Thursday called on the Government to initiate a downward review of the fuel prices without delay.
It said, “The working people of Ghana and their families cannot bear the burden of price increases of such magnitude at this time of the year with the low level of incomes.”
The call was made in a statement signed by Mr Kofi Asamoah, Secretary General in Accra.
The statement said it was aware there had not been a review of ex-pump prices since October 2009, but “In spite of this, we find it extremely difficult to accept a one-off increase between 25 per cent and 30 per cent especially when we take into account the negative social and economic impacts of the astronomical increases in utility tariffs in 2010.”
“We condemn the increases in the prices of petroleum products and call on the Government to intervene immediately,” the statement added.
The statement noted that the price build up by the National Petroleum Authority (NPA) indicated that the tax component of premium gasoline was 14.42 per cent of the ex-pump price.
“We think this is too high especially when we take into account other direct and indirect taxes such as the personal income tax and VAT as well as the recent hikes in road tolls,” it added.