Fuel Prices Set to Rise: GRA to Enforce GHC1 Levy on Petrol and Diesel from July 16

The Ghana Revenue Authority (GRA) has confirmed that the implementation of the revised Energy Sector Levies (Amendment) Act, 2025 (Act 1141) will begin on Wednesday, July 16, 2025. This move, which was previously delayed to allow for market assessment, is aimed at generating revenue to support Ghana’s energy sector.

The decision follows extensive consultations with the Ministry of Finance and the Ministry of Energy, as part of the government's broader economic strategy to stabilize the fiscal landscape while tackling outstanding financial obligations in the energy sector.

Under the amended law, the Energy Sector Shortfall and Debt Repayment Levy (ESSDRL) has been increased across key petroleum products. These changes are expected to support the repayment of legacy debts and fund essential infrastructure projects within the sector.

Updated ESSDRL Rates as per Act 1141:

HS Code	Product Description	Common Name	Old Rate (GHS/Litre)	New Rate (GHS/Litre)
2710124000	Motor spirit, super	Petrol (PMI)	0.95	1.95
2710192100	Gas oil	Diesel (AGO)	0.93	1.93
2710192100	Gas oil	Marine Gas Oil (Local)	0.03	0.23
2710192100	Gas oil	Marine Gas Oil (Foreign)	0.93	1.93
2710192400	Heavy fuel oil	Residual Fuel Oil (RFO)	0.04	Unchanged

The GRA has advised all stakeholders in the downstream petroleum sector to update their pricing structures accordingly before the levy takes effect.

Initially introduced to address recurring funding shortfalls in Ghana’s energy sector, the Energy Sector Levies have played a key role in sustaining public utilities and financing critical energy operations. Officials emphasize that the latest adjustment will enhance the government’s ability to manage sector-related debts and maintain energy supply reliability.

The GRA also assured the public and industry stakeholders that it will monitor the economic impact of the revised levies closely and remain in active dialogue with industry players to ensure a smooth transition.

Comments

Davido Makes History as the First Living Artist to Cover RollingStone Africa Magazine

Nigerian music icon Davido has achieved a significant milestone in his career by becoming the first living artist to grace the cover of RollingStone Africa magazine. This accomplishment comes as part of the promotional campaign for his highly anticipated fifth studio album, Five , set to drop on April 18, 2024. At a recent listening party for the album, Davido revealed that Five will feature 13 collaborations, including appearances by renowned artists such as Victony , Musa Keys , and Victoria Monet . The album will also showcase guest features from YG Marley , who previously worked with Davido on the hit single Awuke , and Chike and OdumoduBlvck , who both joined him on the track Funds . Additionally, Five is set to include collaborations with Adekunle Gold and Omah Lay , with Omah Lay describing the partnership as a perfect musical synergy in a recent interview. During a live Twitch session with Nigerian alternative music star and content creator Cruel Santino , Davido offer...

Richard Nii Armah Quaye: Paving the Way for Innovation in Ghana’s Entertainment and Technology Sectors

Ghana's business ecosystem is undergoing a dynamic transformation, driven by the strategic vision of investor Richard Nii Armah Quaye. Known for his impactful investments in youth-driven enterprises, Quaye has made significant contributions across industries, including hospitality and fintech. Now, with his investment firm, Quick Angels, Quaye is catalyzing a new phase of growth for Lynx Entertainment, expanding its reach beyond its core focus on music. At the heart of this transformation lies Lynx Electronics, a subsidiary of Lynx Entertainment that is dedicated to advancing innovations in entertainment technology. The flagship product of this expansion is the Lynx Reverb Headset, a high-end audio device engineered to deliver an unparalleled immersive sound experience. This venture marks a bold entry into the tech sector, bridging the worlds of music and cutting-edge audio technology. Strategic Investments for Ghanaian Innovation Richard Nii Armah Quaye’s investment strategy i...

Ken Ofori-Atta Files Legal Action Against Special Prosecutor Over 'Wanted Person' Label

Former Finance Minister, Ken Ofori-Atta, has taken legal action against the Office of the Special Prosecutor (OSP), seeking an injunction to prevent the agency from continuing to label him as a “wanted person” or “fugitive from justice.” This legal move comes after Ofori-Atta's image and personal details were publicly displayed on the OSP's official social media pages, despite earlier assurances made in a letter dated February 18, 2025. In a motion filed by his legal team, Ofori-Atta argues that the OSP's actions violate the principles of administrative justice, specifically the right to a fair process and the protection of his personal dignity. He is requesting the immediate removal of his name from the OSP's list of wanted individuals and a court order to prevent the agency from reinstating it without prior judicial approval. Additionally, Ofori-Atta seeks an interlocutory injunction to stop the OSP from issuing any further press releases or public statements that ...

News1gh

Search This Blog