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Deputy Finance Minister, Cassiel Ato Forson has refuted reports that the new petroleum tax will have a major impact on the prices of petroleum products in the country. Presenting the 2015 budget to Parliament, Mr. Seth Tekper revealed a special petroleum tax of 17.5% in the 2015 fiscal year. Touching on the 2015 budget statement delivered by the Finance Minister Seth Tekper on Wednesday, November 19, Hon. Ato Forson stressed that the introduction of new taxes on petroleum prices does not mean that fuel prices will increase. Speaking on "Kokrokoo" on Peace FM, the Deputy Finance Minister indicated that prices of petroleum products like petrol, diesel and kerosene will hike up by 3 percent and 2.6 percent respectively. �Fuel price won�t increase by 17.5% though the tax rate is 17.5%. But rather, those that will go up at pump price, are 3 percent of fuel [petrol] and 3 percent of diesel, and Kerosene will also hike up by 2.6%...I think the budget was bold," he said.