Ghanaians to enjoy significant drop in fuel prices in next pricing window

Ghanaians to enjoy significant drop in fuel prices in next pricing window

- Government to reduce fuel price at the pump on March 15

- The decision to follows the reduction in price of crude on the world market

- COPEC, the Institute of Energy Security, IES, and the NDC have reiterated calls for a reduction in fuel prices by OMCs to reflect the global drop in crude prices

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Ghanaians are expected to enjoy a massive drop in the price of fuel in the next pricing window on March 15, 2020.

The development follows the over 30% drop in world crude prices and the stability of the Ghana Cedi against the major foreign currencies, especially the US dollar.

The Energy Ministry, as well as the National Petroleum Authority, NPA, have assured Ghanaians of some relief during the next pricing window.

READ ALSO: Samira Bawumia advises NDC to relax and watch her husband

According to the two government agencies there will a reduction of prices at the fuel pump.

The reduction in fuel prices is not happening immediately because government and the Energy Ministry for that matter can only wait for the next review on March 15 due to the deregulation policy.

Head of communications at the Energy Ministry, Nana Damoah says government cannot force and cause a reduction in prices against the stated policy of deregulation.

On his part, Chief Executive Officer of the NPA, Hassan Tampuli, said due process must be followed in reducing the prices at the pump.

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Mr. Tampuli added that government has been more prudent in its handling of the petroleum sector, and that any attempts by critics to downplay their efforts would be disingenuous.

Following the drastic reduction in the price of crude on the world market, COPEC for example is calling on government to reduce that fuel prices are reduced by at least 20%. earlier reported that Second Lady, Samira Bawumia has opined that the opposition National Democratic Congress (NDC) should relax and watch President Akufo-Addo and her husband, Dr. Mahamudu Bawumia fix the economy.

According to her, Dr. Bawumia has elevated Ghana’s politics from insults and propaganda to facts and figures.

Speaking on Asempa FM on Monday, March 9, the wife of the Vice President noted that her husband will not be deterred by the insults and name calling but rather stick to the facts.

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READ ALSO: Ghana’s IES raises alarm as global oil prices experience massive fall

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Source: Yen

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