PRESS RELEASE: Extension of the Zeroing of Price Stabilisation and Recovery Levy (PSRL) from the Price Build-Up to 31st January 2022

We refer to our letter dated 22nd October 2021 on the subject matter "Removal of Price Stabilisation and Recovery Levy from the Price Build-Up (PBU) Effective 1st November 2021". The directive to remove the PSRLs on petrol, diesel and LPG as per this letter expired on 31st December 2021.

The National Petroleum Authority (NPA) wishes to inform all Oil Marketing Companies (OMCs) and LPG Marketing Companies (LPGMCs) that His Excellency the President of the Republic of Ghana, through the Ministry of Finance and the Ministry of Energy, has directed the National Petroleum Authority to extend the zeroing of the PSRLs on petrol, diesel and LPG for another month (i.e. from 1st- 31st January 2022). This is in line with Section 5 (2b) of the Energy Sector Levies Act 2015 (Act 899), as amended, which allows the use of the PSRL to stabilise petroleum products prices for consumers.

In view of the above directive, all Oil Marketing Companies (OMCs) and LPG Marketing Companies (LPGMCs) are hereby informed that the PSRLs in the PBU for the period 1st- 31st January 2022 are as indicated in the Table below:

All Oil Marketing Companies (OMCs) and Liquefied Petroleum Gas Companies (LPGMCs) are to take note of the above and apply them in their PBUs for the period under consideration.

Please take note of the above and be guided accordingly.

Signed

Corporate Affairs Department

Wednesday, 12^th January 2022