The Chamber of Petroleum Consumers (COPEC) has called on the government to as matter of urgency devise measures to curtail the recent increment in fuel prices in the country; as it opines Ghanaians cannot continue to struggle over hikes in fuel prices while Ghana produces oil.
According to the energy think tank, it had earlier predicted that the prices of fuel could increase; and advocated for proactive measure to manage the situation but was not successful because of the heat of the 2020 general elections.
The national average price of fuel per liter at the pump was Ghc4.670 in December last year but now sells at an average Ghc5.100 per liter; representing a 9 percent increase.
Speaking to A1 Radio, A Researcher and Monitoring Officer at COPEC, Sampson Addae, wondered why Ghana, as an oil-producing Nation and a net exporter oil continues to have its citizens struggle over prices of petroleum products.
“We at COPEC had preempted this as far back as October 2020 and called for decisive national planning to ensure that these expected increases of prices on the international market are planned for; using strategic state entities like TOR and BOST to ensure there is adequate stock to manage. But the heat of our elections didn’t possibly allow for effective planning as we are currently left with little options than to pass on these increases at the pumps through the economic effects of Covid-19 continue to remain dire on Ghanaians.”
In the midst of the situation, Mr. Addae said “We ordinarily would have expected some taxes on the petroleum price build-up to be eased down at this point to accommodate these increases. But that will also not suffice to look at the differentials and the fact that government itself is also hard-pressed for revenue.”
Despite admitting country’s economy was facing challenges due to the coronavirus pandemic, the researcher urged “Authorities not to go to sleep; but take concrete steps to plan for Ghanaians as far as fuel prices are concerned in order not to be caught flank footed anytime international price dynamics head south.”
The Researcher further called on the National Petroleum Price Sustainability Programme to initiate immediate measures to control the increases as the era of waiting for prices from the international market following from geopolitical developments cannot and should not be allowed to continue to work against the unsuspecting Ghanaian.
Source: A1Radioonline.com|101.1MHz|Moses Apiah|Ghana
