Deputy Finance Minister, John Kumah has stated that both the New Patriotic Party (NPP) and the National Democratic Congress (NDC) must take the blame for politicising issues pertaining to fuel in the country.
The cost of fuel has, over the years, been one of the political subjects in the country, with successive governments making promises to keep fuel prices low.
Speaking to Animwaa Anim-Addo on the AM Show on Tuesday, December 7, Mr Kumah argued that the NDC cannot fault the government for the recent trends in petroleum prices because they are equally guilty.
“That’s a very difficult issue and I am happy that when it comes to fuel, NPP and NDC are all guilty of fuel politics. Unfortunately, if you look at the global trend, and here [when] we talk about COVID-19, our friends disagree but this is actually what is happening.”
“America has announced that they were going into their reserve to also supply fuel to bring down the prices. These are things that usually, as a country, you may not have control over and once we have all submitted to deregulation and say that if it goes up, it goes up; if it comes down, it comes down, these are some of the prices we pay,” he explained.
Fuel pricing in Ghana is deregulated, meaning prices at the international market have direct impact on prices locally.
That notwithstanding, currency depreciation and taxes also have significant impact on the fuel prices.
According to John Kumah, government is utilising all possible avenues to resolve the price fluctuations, adding that “it’s not like we have the comfort to do it and we are ignoring, that is not the situation; if government intervenes at this level to say that instead of selling at 6.9 or 6.7, do 6.7, what it means is that government has to look for resources to cushion the deficit or the balance.”
“For instance, we expect the world prices to come down because the US is intervening by also joining the supply chain. If these things begin to happen, you’d see the drop from the $90 downwards and that would have resulted in the same changes that we are talking about without this cost that government has to bear,” he noted.
Commercial drivers laid down their tools on Monday, December 6, leaving many commuters who use public transport to and from their various destinations stranded.
They were appealing for the government to scrap some taxes on petroleum products in order for fuel prices to be reduced at the pumps.
After a crunch meeting with the driver unions, the government has directed the Ghana Oil Company (GOIL) to reduce price of fuel at the pumps.
A litre of fuel which is sold at GHS6.85 is expected to be reviewed downwards to GHS6.70 effective December 7, 2021.
- Presidential aspirant arrested in alleged diversion of $7m of public funds and property
- Patapaa’s marriage to German wife, Liha Miller, reportedly hits rocks
- Tragedy as man dies mid-flight from Accra to Washington
- No monkeypox detected in Western Region – Ghana Health Service
- GFA maintain Otto Addo as head coach; Boateng, Dramani and Hughton also stay at post
- At least 15 dead in Texas primary school shooting
- Landslide scare hits residents around Weija-Kasoa ridge
- ‘Charity begins at home; comply with asset declaration law’ – Speaker tells MPs
- Presidential jet to undergo major repair works within the next 4 months – Defence Minister
- Quality of life in Ghana and other African countries has declined – Finance Minister
Hollard Ghana and Melcom extend partnership online with e-commerce
Coming Up on Upfront: Domelevo speaks on asset declaration
Akufo-Addo commission dredgers; charges MMDCEs to remove structures on waterways
UK government to donate 70 armoured vehicles to government – UK Minister for Africa
Adopt trade policies that reduce discrimination against women –GEXIM Deputy CEO urges African leaders
From Eric’s Diary: Why I attend events – Reciprocity is No. 1, you?
Homes with concrete floors adding to effects of flooding in Accra – Civil Engineer
Akufo-Addo elected Chair of the Climate Vulnerable Forum
Riohs Originate is now the Riohs College of Design – Education institution rebrands
EC to sanction political parties that are not operational in two-thirds of the country
Court fines man for misappropriation of ₵94,861.92
Akufo-Addo presents 64-seater bus to Amedzofe E.P College of Education
I would certainly marry a Ghanaian if I fall in love with one – French Ambassador
Photos of Asamoah Gyan’s ¢150k customized Caveman watch surfaces online
We will fix roads affected by floods- Amoako- Atta