The CEO of the Chamber of Oil Marketing Companies (COMAC), Dr Riverson Oppong, is demanding full transparency on proceeds from the controversial “dumsor levy,” as government moves to ease fuel prices.

Government has announced plans to remove some taxes and margins on fuel to cushion consumers.

The decision, communicated by Felix Kwakye Ofosu, follows a cabinet meeting on Thursday to assess global economic pressures, including rising fuel costs driven by Middle East tensions involving the United States, Iran, and Israel.

Reacting on PM Express Business Edition hosted by George Wiafe, Dr Oppong described the move as both expected and surprising.

“I don’t know what to call it, whether expected or surprise…I say "expected" because I believe we needed this kind of intervention. Surprised, because I don’t know why government would take a decision like this when the war, indeed, today, has been halted,” he said.

He noted that the timing raises questions, especially as global benchmark prices begin to stabilise.

“But as I’m saying, we already see the international benchmark prices coming out, and this is the time that the government decided to review prices when we had been asking for it a month ago,” he added.

Despite reservations, he welcomed the policy direction.

“It’s a good direction. I think we are all excited about it as an industry…we are having a dialogue with the government that listens and understands the impact of decisions like this to the ordinary Ghanaian.”

Dr Oppong cautioned that any relief at the pumps may not be immediate.

“The expectation of this downward movement of fuel globally will take some time…when it was going up it took some time.”

He said clarity is now needed on which taxes and margins will be adjusted.

Credit/ Myjoyoline.com