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Dr Theo Acheampong, an international petroleum economist based in the United Kingdom, is advocating for the immediate removal of taxes on Liquefied Petroleum Gas (LPG).

He said it will help cushion consumers who have been saddled with a myriad of taxes on petroleum products making cost of living very expensive.

Countries like France recently absorbed the potential impact of price increment on petroleum products in the short term to avert social upheaval.

Speaking  with Kofi Abotsi on Town Hall Talk on Asaase Radio on Friday (29 October), the petroleum economist said: “I think the government can do something, and I have advocated that if you look at some of the prices of petroleum products, especially LPG, I don’t see why we should be imposing 20% or so tax on it.”

“A lot of our people use it for cooking and the evidence-based shows that anytime prices of LPG goes up then households substitute with other alternate fuel like charcoal which is not good for the environment.”

He added: ”Government can actually halve or remove the taxes on LPG at least for now to cushion the burden on households and other consumers.”

National dialogue
Dr Acheampong further called for a national dialogue on the various margins on other petroleum products.

“And then when it comes to other petroleum products like petrol and diesel, I think we need to have conversation on some of the margins and the taxes that are being charged.

“The BOST margin that has been increased I think a 100 or 200% since the last two years, so this is before pre-pandemic, we need to have conversation about strategic role of BOST… these days they are engaged in other commercial activities, so does that warrant the charge of the margins that is being paid to BOST.”