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UW: Drivers happy about 15p drop in fuel prices; expect further reduction in coming days

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Transport operators in the Upper West Region have said though they are not satisfied with the decision by the government to reduce prices of petroleum products only through GOIL by 15 pesewas, they think that act demonstrates the President desires to listen to their cry.

Speaking to the media in Wa, the Upper West Regional Capital, the transport operators said they are waiting to see how the government fulfil the promise to deal with what they described as nuisance taxes and levies on petroleum products.

Those who spoke to the media commended government and said the decision will compel other Oil Marketing Companies (OMCs) to reduce their prices to remain competitive.

Meanwhile, the Chamber of Petroleum Consumers Ghana (COPEC) has estimated that due to the current fall in oil prices on the world market, prices of fuel at the pumps in Ghana could fall between 10 and 15 percent. This means that Ghanaians could buy fuel at 6.14 GHC per litre at the pumps.

Speaking to Samuel Mbura on A1 Radio’s Day Break Upper East, the Research, Price and Monitoring Officer at COPEC, Sampson Addae explained that the current fall in prices of oil at the world market has been necessitated by the halt and stagnation in economic activities due to the current wave of the Omicron variant of the COVID-19.

“If we get the 10-15 percent reduction, then we will be selling around 6.4 or 6.5 GHC per litre which will transcend into 28 or 29 GHC per gallon,” he explained.

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