The government is set to suspend the GH¢1-per-litre Energy Sector Shortfall and Debt Repayment Levy, known as the D-Levy, on diesel for October and November while maintaining the existing GH¢2-per-litre relief for consumers.
According to sources within government, the adjustment will change how the relief is funded without increasing its overall value.
Under the proposed arrangement, GH¢1 will come from reductions in statutory margins and the remaining GH¢1 from the suspension of the D-Levy. Previously, the entire GH¢2 relief was provided through margin reductions.
Diesel consumers will therefore continue to receive relief totalling GH¢2 per litre during the two-month period.
The intervention comes as the Chamber of Petroleum Consumers (COPEC) forecasts sharp fuel price increases for the first pricing window of October, beginning Thursday, October 1.
COPEC projects a 22.91 per cent increase in diesel prices, with the average price expected to rise from GH¢18.24 to about GH¢22.42 per litre. Petrol prices are projected to increase by 5.21 per cent, from GH¢16.90 to GH¢17.78 per litre.
The Chamber attributed the anticipated increases mainly to rising international petroleum prices and a marginal depreciation of the cedi against the US dollar.
The planned adjustment follows earlier government interventions, including the continuation of a GH¢2-per-litre reduction in the regulatory margin on diesel during September.
