Ghana—The chamber of petroleum consumers (COPEC) has given the government a two-week ultimatum to make an intervention that will ensure that the prices of petroleum products are reduced.
Contributing to the issues surrounding the increment of fuel hikes on Tonton Sanson, the head of pricing and monitoring at COPEC, Sampson Addai, stated that should the government act to reduce fuel prices, his outfit will lead a massive demonstration to protest the incessant fuel hikes.
“We at COPEC have given the government a two weeks ultimatum to help reduce the price of fuel else we will lead Ghanaians to hit the streets,” Addai to host Prince Minkah.
“Fuel price has been increased 17 times yet we have not ended the year. If care is not taken, would end the year with a few hikes,” he added.
However reacting to the issue, the communications manager at the National Petroleum Authority (NPA), Mohammed Abdul-Kudus indicated that the government was putting measures in place to reduce the price of fuel.
This is after the NPA had approved the removal of the Price Stabilization and Recovery Levies (PRSL) on petrol, diesel, and LPG for two months, beginning from November.
Apart from that, he said the price was still high because of the hikes on the global market, forcing importers to channel the cost of the consumers.
“Basically it’s worked crude prices that virtually is a greater determinant of the fuel price at the pump.” He said, adding that the situation has been so since 2015 after the implementation of the petroleum pricing formula.
“You have the cost of the fuel on the world market and also, the issue of the forex exchange are those factors that trigger the change,” he stated.
Asked by the host what the NPA does to cushion petroleum consumers, he explained that apart from the direct impact of the NPA in deregulation, the authority also advises the government through the relevant ministries.