Audio By Carbonatix
The Ministry of Energy and Petroleum says kerosene and premix fuel attracted the highest price increases in recent fuel price adjustment because subsidies on them were being exploited.
Last week’s fuel price adjustments saw kerosene and premix fuel recording the highest increases. Premix fuel which was selling at 66.82 GHp/lt increased by 19.94% as the pump price went up to 80.14 GHp/lt.
While kerosene which was being sold at 115.03 GHp/lt increased to 124.79 GHp/lt representing an 8.41% hike.
But speaking to journalists at the end of a three-day oil and gas sector training, Deputy Minister of Energy and Petroleum John Jinapor said 80% of subsidised kerosene are used for commercial ventures rather than for domestic use by the targeted poor.
"Research has indicated that only 20% of the subsidised kerosene gets to the final consumer in addition to that while we subsidise a gallon of kerosene at GH¢ 4, it is being sold at GH¢ 16 in the rural areas", the Minister revealed.
He also added that 80% of susbsidised fuel finds its way back onto the market after they have been adulterated, which he said contributed to various mechanical problems in vehicles.
He noted that these issues have compelled government to instead invest in solar lanterns to assist the poor as against subsidising kerosene and pre-mix fuel.
He explained that the solar lamps are effective, last longer and can even be used to charge mobile phones, noting it is one of means of "bridging the communication gap".
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Interest payments to average a high 20% of government revenue over next 4 years
3 hours -
Strategy of accumulating foreign reserves, gold carries high fiscal cost – S&P Global
3 hours -
Weak institutional arrangements, high debt servicing constrain Ghana’s rating – S&P
3 hours -
Bond market: Turnover declined by 28% to GH¢1.56bn
3 hours -
Volta Region National Public Speaking contest advances drug prevention conversation
3 hours -
New health training facility at Ampoma-Jema to address admission shortfalls, but Minister flags missing amenities
4 hours -
Black Challenge unveiled with sights set on Amputee World Cup glory
4 hours -
Pay striking teachers before expressway spending, Dr Kingsley Agyemang tells government
5 hours -
Customs intercepts assault rifle, two pistols and 610 rounds of ammunition at Tema Port
5 hours -
PKO boxers secure wins at Odwira Festival
5 hours -
South Tongu Records Rise in Teenage Pregnancy
6 hours -
Cabinet threw out US health compact faster than anything I’ve seen – Mahama
6 hours -
MoFA urges Finance Ministry to reverse World Bank food programme withdrawal over GH¢643m commitments
6 hours -
NAGRAT demands signed timelines before calling off strike
6 hours -
National Investment Quiz: West Africa SHS, St. Louis SHS advance to semi-finals
6 hours