Fuel Price: KT Hammond Narrates Near Fight At Filling Station Over “Exorbitant” Petrol And Diesel Price Hikes

Fuel Price: KT Hammond Narrates Near Fight At Filling Station Over “Exorbitant” Petrol And Diesel Price Hikes

  • The fuel price increases are hitting hard at everyone, even legislators who are always perceived to be better off than the average Ghanaian
  • MP for Adansi Asokwa KT Hammond has said he caused a major scene at a fuel station over the rampant fuel price hikes
  • He blames petroleum marketers and bulk distributors for the astronomical price hikes, saying they were cheating the system

PAY ATTENTION: Сheck out news that is picked exactly for YOU ➡️ find “Recommended for you” block on the home page and enjoy!

Outspoken Member of Parliament for Adansi Asokwa, KT Hammond, has said oil marketing companies are to blame for the rampant and astronomical increases in fuel prices in Ghana currently.

According to him, he almost threw punches at a fuel station over the situation.

He told Joy News during an interview recently that while it is true that the global petroleum market has been destabilised in Ghana, the OMCs and bulk distributors are trying to cheat the system and make abnormal profits.

Read also

Finance Minister Ofori-Atta speaks amid efforts to sack him: “Your best bet is still Ghana”

KT Hammond has blamed petroleum marketers for the rampant fuel price increases.
KT Hammond (R) is MP for Adansi Asokwa constituency. Source: UGC/@JoyNewsOnTV
Source: UGC
“A few days ago, I went to the garage, they pumped the fuel into the car and they came to give me the bill, it almost turned into a Third World War at the station. I asked why is he giving me this, and he said just yesterday price of super moved to what the price of diesel used to be.

PAY ATTENTION: Enjoy reading our stories? Join YEN.com.gh's Telegram channel for more!

“It is a particularly difficult situation and I do not envy the lot. Those who are really having to juggle,” he admitted.

He said fuel price volatility has hit across the globe, but something does not add up for Ghana’s situation.

“It is not a situation peculiar to only Ghana. We have heard about the situation in Sri Lanka. It is a redeeming situation for those of us in Ghana. At least, we are not in long queues. Oil-producing countries like Nigeria and others are all in queues, we are not.

Read also

Ayorkor Botchwey predicts the worse is yet to come for Ghana's economy

“It’s the OMC, the big ones, and the BDCs. I have a problem and they better sort it out well. They got the dollar at whatever rate so somebody should pay for it…I am concerned that some OMCs are making unnecessary profits and I think we should be careful how they are also playing the market, we are in this together,” he said.

Since January 2022, pump prices have more than tripled, worsening the already precarious economic condition.

Apart from the unstable global petroleum markets due to the Russia-Ukraine war, experts in Ghana blame the depreciation of the cedi against the dollar as another factor for the rampant increases.

KT Hammond is, however, confident that president Nana Akufo-Addo will be able to secure cheaper fuel for the Ghanaian market soon.

“The president has travelled out of the country many times and sent out a delegation to make sure that in a very short time we would be able to flood the market with some petroleum products. I am not happy with the way the BDCs are going about this situation," K.T. Hammond stressed.

Read also

Plea from Ukraine first lady kicks off annual tech summit in Portugal

KT Hammond’s Claim Of Abnormal Profits by OMCs and BDCs Dismissed

Meanwhile, the Chamber of Petroleum Consumers Ghana (COPEC-GH) has said the claim by the governing NPP legislator is unfounded.

COPEC-GH executive secretary Duncan Amoah told YEN.com.gh via a text message that the figures don’t support the MP's claim against the marketers and importers of petroleum products.

“KT Hammond should cross-check figures with the ministers and the National Petroleum Authority (NPA) and see if indeed the OMCs are cheating.
“The numbers COPEC-GH have doesn't suggest cheating by the OMCs, but if he has counter numbers we will be pleased to interrogate them. I am not sure Goil, as the state company within the space, will engage in cheating customers. He should come again,” Amoah stressed.

Fuel Price Increments: Petrol, Diesel Prices Jump To Almost Gh¢18 And Gh¢24 Per Litre

Meanwhile, YEN.com.gh has reported in a separate story that fuel prices at the pumps increased again after they went up twice in the month of October 2022.

Read also

Stop slapping huge margins on goods – Akufo-Addo warns market women

As of November 1, 2022, petrol was selling for GH¢17.99 per litre, with diesel selling for GH¢23.

These increments are coming at a time crude oil prices on the world market have remained below $100 per barrel for more than two months.

New feature: Сheck out news that is picked for YOU ➡️ find “Recommended for you” block on the home page and enjoy!

Source: YEN.com.gh

Online view pixel