Ghana has taken delivery of the first consignment of the gold for oil deal reached with the United Arab Emirates.
The 40,000 metric tons of oil arrived at the Tema port on Sunday, January 15, 2023, according to the Ministry of Lands and Natural Resources.
The Energy Ministry, the Bulk Oil Storage and Transportation and Oil Marketing Companies are to formulate plans for its distribution and sale.
This, according to the Lands Ministry, will help reduce fuel prices in the country.
Meanwhile prices of fuel at the local pumps went up leading many to question the relevance of the gold for oil policy.
Andrew Atariwini, Deputy Upper East Regional Communications Director of the NPP is however confident that in the coming weeks, the prices of fuel at the local pumps would be reduced to ensure that Ghanaians get some relief.
He spoke on A1 Radio’s Day Break Upper East Show today, Thursday, January 19, 2023.
“[We said] let’s look for cheaper sources of fuel. The first consignment has just come. I am thinking that you cannot just expect an immediate change in the cycle of things that we used to see. Ask yourself, how many pumps have that oil today? The strategy to distribute the oil might be a factor and might delay,” he said.
For Mr. Atariwini, Ghanaians may have to exercise a little patience and allow the government to finalise the distribution modalities. When that is done, the price of fuel will drop.
“Perhaps, we should give ourselves to the end of the month, [and] getting into February, where believe that enough quantity of the oil would have been in circulation. Then, we would look at how the prices at the fuel pumps would be,” he added.
Source: A1radioonline.com|101.1MHz|Mark Kwasi Ahumah Smith|Ghana