NPA blames fuel increment on subsidy removals

The 23% increment in the price of fuel could have been prevented if the fuel subsidies had remained in place, the Public Relations Officer of the National Petroleum Authority, Yaro Kasambata told the CitiFM Online Breakfast Show.
He said since the government is no longer subsidizing the price of petroleum products, consumers would have to pay the full cost.
Mr Kasambata added that the prices of crude oil on the international market and the depreciation of the Ghana cedi
have contributed to the increment.
About two weeks ago, the National Petroleum Authority indicated it would increase the price of petroleum products after an acute shortage of the product hit various parts of the country, especially Accra.
The shortage was caused by the inability of government to settle its debts promptly to Bulk Oil Distribution Companies (BDCs).
The shortage reignited the discussion on the payment of fuel subsidies as some consumers indicated their readiness to pay the full cost of petroleum prices.

Related Articles

Back to top button