National Petroleum Authority set to increase fuel prices
this week
Masahudu Ankiilu Kunateh, Ghanadot
Accra, June 2, Ghanadot -
Ghana's National Petroleum
Authority (NPA), the regulator of the petroleum industry is
set to increase the prices of petroleum products in the
course of this week.
The increase is expected to be between 10%
to 20%, which the NPA attributed to the current increase in
the prices of crude oil on the global market and the
depreciation of the Ghanaian cedi.
The Public Relations Officer of the
Ministry of Energy, Michael Akoasi indicated that in as much
as the government would love to cushion Ghanaians by keeping
to the current price, the present state of the economy would
not allow this.
Currently, crude oil is selling at 64
dollars per barrel and being feared of further surge to over
75 dollars before the close of the year.
It is important to note that, over the
last fortnight when the government decided to maintain the
prices of the products at their current state in spite of
the increasing crude oil prices on the international market,
which led the government to incur a debt of GH¢7million
through under cost recovery.
Ghana presently imports refined crude oil
from North Western Europe and the Mediterranean region.
According to the Public Relations Officer,
the price review is likely to affect kerosene, explaining
that the government is determined to cushion the impact of
the upwards review on Ghanaians, especially the rural folks.
However, the Committee for Joint Action (CJA), a leading
pressure in Ghana hinted that it will resist any attempt by
government to increase fuel prices.
According to a leading member of the
group, Bernard Mornah, the increases will deepen the
hardships of the ordinary Ghanaian, a situation the group
will not allow to happen.
Already there have been mixed signals by
government and the National Petroleum Authority over who
bears the cost of the price increases.
Deputy Energy Minister, Dr. Kwabena Donkor
has recommended a full cost recovery to allow for government
to channel the resources into other development activities.
But the head of NPA, Alex Mould, says government will bear
the cost of the increases which will be announced anytime
this week.
Mr Mornah therefore cautioned government
not to repeat the mistakes of the erstwhile New Patriotic
Party (NPP) administration which deregulated the petroleum
sector to the disadvantage of the country.
He said increases in petroleum products
negatively affect all facets of the lives of the ordinary
man and the CJA will not accept the passage of increases of
crude oil on the world market onto the consumers.
Meanwhile, a cross-section of Ghanaians
interviewed on the impending increase of the fuel prices
have expressed divergent opinions.
Moses Gedzah, chairman of the Odawna
Taxi-Hiring Union indicated tha the increase is not within
the scope of the government but as a direct result of the
global price hike.
Tony Baah, station Master of the Ford Bus
Station, noted that the expected increase would
automatically trigger an increase in spare parts and
lubricants prices.
"We too will know choice but to increase lorry fares".
Some Filling Stations visited in the
Central Business District of Accra, saw zigzag queues of
vehicles at the stations waiting patiently to be served. But
the stations managers are not eager to serve them.
Ghanadot
