Prices of various petroleum products have started going up from Monday after the Oil Marketing Companies (OMCs) were directed by the National Petroleum Authority (NPA) to start applying revised Energy Sector Levies.

The NPA’s directive is as announced in the Supplementary Budget presented by the Finance Minister, Ken Ofori-Attah.

Based on the revision petrol would witness a ¢0.20 adjustment, while Diesel would also attract ¢0.20 jump in price per litre.

The increase is as a result of the Road Fund Levy, Energy Debt Recovery Levy, as well as the Price Stabilization and Recovery Levy increased up 20 per cent.

The development would mean that the percentage of levies on various price build up on each product would go up.

This should mean that the litre of petrol is now expected to be sold at around ¢5.39 for both petrol and diesel and 4.5-litre gallon should be selling at around ¢24.25.

Oil marketing firm Shell took the lead by increasing each litre of petrol and diesel by ¢0.19 effective September 1 2019.

This is resulting in their service stations around the country adjusting their prices as displaced on their boards as Super goes for ¢5.38 and Diesel selling for ¢5.38.

However, JoyBusiness is learning that other major oil firms are expected to review their prices later in the day. e

A kilogram of LPG is expected to also go up by ¢0.08.

Some of the OMCs have told JoyBusiness that it might be difficult to absorb the expected increase because their margins and profits have not been that good due to the increased competition in the sector.

There are currently more than 100 OMCs operating in the country.

Most industry players would be looking up the industry leader, GOIL whether it would increase prices or absorb it, a move that would influence the others.

Some industry watchers have argued that prices could have remained fairly stable if it had not been for the application of the revised levies.

JoyBusiness’ checks with various importers and bulk distribution companies showed that some of the major products should have rather gone down.

Source: www.myjoyonline.com

 

Kasa's efforts in restoring mangrove forests to mitigate coastal erosion

The Keta lagoon tragedy is still edged in the minds of residents who helplessly watched as the sea claimed their loved ones lives, their property and even robbed their gravesites. Now, all that’s left of a once thriving community is stumps of houses and sunken hopes evident by their scowled faces. This phenomenon is unfortunately becoming common along Ghana coastlines as the sea levels rise and take claim to lives, land and property.

One of the evidence of climate change is rising temperatures which impact the sea and oceans in various ways. One is melting polar ice which leads to expansion of oceans which in turn encroach on lands such as Keta. Secondly, the high temperatures which are stored in the water exacerbates water acidity which then degrades coral reefs and even mangroves; which act as sea defense. Cases such as Keta’s can be observed world over, in coastal areas.

The Government of Ghana has responded to this recurring disaster with measures to keep the sea at bay and relocation propositions for community members. Along  Ghana’s volta region and other coastal regions, one can observe sea defense systems protecting coastlines from strong tidal waves that cause erosion, flooding, amongst other hazards. These engineered structures are fortified to ensure durability and restoration of normally for coastal communities. However, as with most man made structures, there is a lifespan to such structures.  That is why organisations such as Kasa Initiative Ghana advocate for Nature based solutions such as planting of Mangroves.

Mangroves forests not only act as sea defense but perform as carbon sinks better than terrestrial forests. Additionally, their roots create an ecosystem for marine life to start and thrive. Marine creatures such as turtles and fish rely on this ecosystem for survival in initial life stages before venturing into the deep sea. Kasa with support from IUCN and Forestry commission sought  to restore mangrove in South Tongu District of the Volta Region. The exercise, done in collaboration with youth, women and men from the communities not only identified locations for restoration but also provided seedlings and carried out the planting. The initiative also engaged community members on the importance of mangrove forest in the environment and what it takes to ensure the forests reach maturity. 

 

In previous years, communities along the coastline in the Volta region were well barricaded from tidal waves by thinning mangrove forests. However, due to livelihood activities such as mangrove harvesting, the forests are now shrinking and far apart. Smoking of fish and other seafood is common in these areas with mangrove being the preferred source of firewood. Due to this, introduction of alternative livelihood is a key component to restoration efforts to avoid a recurrence of the current where firewood heaps are aligned along the coastline and in markets.