Energy Ministry debunks NDC’s claims of 7% fuel price hike

The Energy Ministry is debunking claims that fuel prices have increased by 7 percent at the pumps.

This comes on the back of comments by the National Democratic Congress on the recent price increases at a press briefing on Monday, October 18, 2021.

Fuel prices went up over the weekend after similar increases in previous weeks. This has led to complaints about hardships from Ghanaians.

A litre of petrol and diesel, which previously was sold at GH¢6.52 is now selling at GH¢6.80 at the various filling stations.

The sudden rise comes at a time when many were expecting the scrapping of the Price Stabilization and Recovering levy of 16 pesewas to take effect to mitigate the impact of rising prices of petroleum products on the world market on consumers.

Commenting on the increases at a press briefing in Accra on Monday, October 18, 2021, National Communications Officer of the NDC, Sammy Gyamfi, mentioned that the price of the commodity has seen a 7 percent rise and attributed the worrying situation to “insensitivity on the part of the NPP government”.

He claimed the continuous price hikes were the result of the introduction of a raft of taxes targeted at shoring up the government’s finances and the depreciation in the value of the cedi.

But the Energy Ministry, debunking these claims in a statement signed by its PRO, Kwasi Obeng-Fosu, explained that Total Energies is the only OMC that has revised its price upwards from GH¢6.52 per litre to GH¢6.80 per litre; that is a 4.29% increase and that other OMCs are yet to announce their prices for the new window.”

The Ministry believes competition will even force the increase further down to a level below 3%.

Source:citibusinessnews.com