Government to restore PSRLs on petrol, diesel and LPG effective February 1

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The National Petroleum Authority (NPA) has indicated its decision to restore the Price Stabilisation and Recovery Levies (PSRL) on petrol, diesel and Liquefied Petroleum Gas (LPG) products effective February 1, 2022.

President Akufo-Addo had directed the National Petroleum Authority to extend the removal of the Price Stabilisation and Recovery Levies on petrol, diesel, and LPG to the end of January.

Following the exhaustion of the grace period, the NPA has restored the PSRLs.

“We hereby wish to inform all Oil Marketing Companies (OMCs) and LPG Marketing Companies (LPGMCs) that effective 1st February, 2022, the PSRLs on petrol, diesel and LPG have been fully restored,” it said in a statement.

The restored PSRL is 16 pesewas per litre on petrol, 14 pesewas per litre on diesel, and 14 pesewas per kilogram on LPG.

According to the NPA, the zeroing of the PSRL cannot be extended any further considering it remains the source of revenue for the payment of the subsidies on Premix Fuel and Residual Fuel Oil (RFO).

Thus an attempt to extend the suspension of PSRL further would “negatively affect the payment of subsidies to the suppliers of these products, and threaten their continuous supply to customers.”

“All Oil Marketing Companies (OMCs) and Liquefied Petroleum Gas Marketing Companies (LPGMCs) are to take note of the above and apply them in their PBU accordingly,” the NPA stated.




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Kennedy Mornah is an Award Winning Ghanaian Journalist with over two decades of experience in the Ghanaian Media landscape spanning the electronic, print and digital media. He is a Media Consultant, a Corporate MC, Radio and TV Host, Founder and Publisher of the Maritime and Transport Digest Newspaper, Businessman, a Go getter and an optimist. He has worked for renowned media organizations including Diamond Fm in Tamale, Luv Fm in Kumasi, Oman Fm in Accra and Starr Fm in Accra In 2017 he received the Reporter of the Year Award at the Ghana Shippers Awards in Accra, Ghana.

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