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Fuel Prices Will Not Be Increased — NPA
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Ghanaians will breathe a sigh of relief ‘at least’ from now to the 16th of July, 2014.

According to the National Petroleum Authority (NPA), there are no immediate plans to increase the prices of petrol and the other fuel products in the country despite earlier reports of a 20% increase.

In an interview with Kwami Sefa Kayi on Peace FM’s morning show ‘Kokrokoo’, the Public Relations Officer of the NPA, Yaro Kasambata debunked reports of the fuel increment saying “it will not be increased at least for now”

“There is no price increase and there will be no prize increase…at least for the next two weeks. We are still monitoring the situation and by 16th of July, we will know whether to increase the prices or maintain it…” he said

News of an imminent increase in fuel prices a few days ago pushed some Oil Marketing Companies (OMCs) to store petroleum products causing what some have described as an ‘artificial fuel shortage’.

Prior to this, officials of the Bulk Distribution Companies (BDCs) also issued warning of a possible shortage because of the government’s inability to pay them for overdue under-recoveries.

To solve the situation, President John Dramani Mahama ordered the Finance Ministry to pay the BDCs an amount of $60 million to offset some of its total debt of GHC 1.8billion.

However, the shortage of petrol worsened until over the weekend when the President again ordered the release of the country’s strategic fuel reserves.

Source: Rebecca Addo Tetteh/Peacefmonline.com

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