The recent upward review of petroleum prices by the National Petroleum Authority, NPA, has raised questions among most Ghanaians about what goes into determining the prices of petroleum products.
Answering some of these concerns on Radio Ghana’s Current Affairs Programme “Focus” which discussed the recent petroleum price increase and its effects, the Head of Communications at the NPA, Steve Larbi attributed the trend to the political instability in oil producing countries and the depreciation of the cedi among other factors.
An Economist, Professor George Ayettey stated that inspite of the factors that goes into the determination of fuel prices, the NPA should be careful with its frequent increase.
He asked government and other state institutions to adopt measures to cut down on their fuel consumption to help reduce the burden on the economy.
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