The former Chief Executive of the Ghana Chamber of Bulk Oil Distributors, Senyo Hosi, has urged government to be modest about its promise to get affordable petroleum products to the Ghanaian market.

His comments come on the back of information that a government of Ghana delegation is currently in Abu Dhabi negotiating a deal to bring in the products.

President Akufo-Addo in his latest address to the nation on the state of the economy revealed that his government is working to stabilise prices of petroleum products through new supply arrangements in a bid to tackle the high cost of living.

But Mr Hosi has a cautious view.

According to him, the price of fuel is dependent on the stability of the currency and other macro-economic realities but not the location the commodity is bought.

Mr Hosi therefore believes that the skyrocketing fuel prices will only decline with the appreciation of the cedi.

“So I’ll encourage government to be a bit more modest in the promises he gives to the public otherwise he will raise expectations that sometimes he just may not be able to sustain.

“So just manage your communication and expectations,” he counselled the government while speaking in an interview with Evans Mensah on Joy News.

The former CEO also asked government to engage industry players and the banks in any major decisions.