Members of the committee that will be responsible for hedging the purchase of the country’s petroleum supplies are being sworn in today. The swearing-in forms the next important step towards insulating consumers from the volatility of the world petroleum market after government approved a decision to allow the National Petroleum Authority to hedge. The members are drawn from the Bank of Ghana, Finance and Energy Ministries and the Attorney General’s Department. One of their first duties will be to decide the price at which to hedge the country’s petroleum purchases, especially for petrol and diesel. After this, the NPA says Ghanaian consumers can be assured that they will not have to pay beyond a certain price for their petrol or diesel at the pumps. Hedging has been necessary because the local consumer cannot bear the full pressure of increases in petroleum prices on the world market. Source: Joy Business/Myjoyonline.com/Ghana