The Executive Secretary of the Chamber of Petroleum Consumers (COPEC), Duncan Amoah, has disclosed there will be a likely increment in petroleum prices in at various pumps in ensuing days. According to him, government must intervene to avert an increase in fuel prices.
That notwithstanding, there is some increase in petrol prices at some fuel stations from GHC 6.05 to GHC 6.23 per litter and this has led to a 13 percent increase in transport fares.
Mr Amoah disclosed that price of petrol has increased by eighty-one pesewas per gallon.
“Everything that happens on the global stage now impacts directly on the pump, and we think that this is not good enough. The system needs to be fixed and fixed immediately. We don’t know how long we will be able to contain these increases without pouring onto the streets, because it is becoming one too many. The excuses and explanations will continue coming in, but the bottom line is that we all have to go out there and pay more. As we speak, those buying from the increased OMP are paying as much as 81 pesewas per gallon aside from the prices they already complained were too high, this is what the new increases mean.
“We have seen an increase, and it is likely a new increase will soon hit us in a few days or weeks from now, and I don’t know how much of our income will increase to match the rising fuel prices”.
Minority to resist fuel prices increment
Prior to this, the Member of Parliament for Yapei-Kusawgu, John Jinapor had indicated that the minority will resist any attempt by government to increase fuel prices.
Mr Jinapor stated that, the increases in the prices of petroleum products puts government across as insensitive to the plight of Ghanaians. As such, He further indicated the Minority will not countenance an increment in fuel prices at fuel stations.
The Yapei-Kusawgu legislator further maintained that the current government has exhausted ideas in raising revenue to manage the sector.
“The recent increase has only resulted in worsening off the living conditions of the already impoverished Ghanaians under the Akufo-Addo presidency. It appear that things are taking for the worse as international rating agencies have begun sounding the alarm bells on Ghana’s huge and unsustainable debt levels.”
Prices of fuel initiated increase in transport prices
Effective Saturday, June 5, road transport fares increased by 13%. The new prices affected all forms of transport including Inter-city, Intra-city and shared taxis.
In a press statement, the Ghana Private Roads Transport Union (GPRTU) revealed that the increase is to accommodate the increase in fuel prices announced in May 2021. It further revealed they came to a conclusion after long negotiations with stakeholders.
The Union further revealed that government had also assured them via the Ministry of Finance that the suspension of the quarterly income tax paid by owners of trotros and taxis will be extended.
This it explained, was intended to cover intercity commuter vehicles to reduce the operational cost.
Following an agitation by citizens, the National Petroleum Authority rescinded its decision to increase the fuel margin to 17 pesewas per litre.
In a communique dated May 4, NPA revealed that “the 17 pesewas per litre increase in fuel margins previously announced by the NPA has been reduced to 9 pesewas per litre.”
