The Chamber of Petroleum Consumers (COPEC) Ghana is sceptical whether the government would get a cheaper source of fuel on foreign markets as a means of reducing the prices of fuel at the pumps in Ghana.
Sampson Addae, the Monitoring and Evaluation Officer of COPEC said this when he spoke on A1 Radio’s Day Break Upper East Show.
“I do not think there is any cheaper fuel anywhere. [If there was], the BDC supplying fuel would have gone there to buy it because when they were trying to get dollars and dealing with forex issues, they would have purchased the cheaper fuel.”
“If the government says they are going for crude at cheaper prices, for that one, they would get. When you go to the Saudi Arabian areas, their crude is sold at a cheaper price because it is low quality. BUt when you get the crude, you have to go and refine it. For less quality crude, when you refine, it also comes at a cost. It would then get to the same prices you were trying to avoid,” he said.
Mr. Addae explained that if the Tema Oil Refinery (TOR) was in operation, it would have helped the situation “but since TOR is not working, there would be no cheaper fuel.”
Source: A1radioonline.com|101.1MHz|Mark Kwasi Ahumah Smith|Ghana