ADVERTISEMENT
RADP / Pulse Ghana  >  news  >  business

Fuel prices up by 9%

Europa

In a statement, the Chamber criticised Oil Marketing Companies (OMCs) for the increment.

READ ALSO: Fuel prices expected to go up 2 to 4%

According to COPECGH pump prices as of “this morning [January 4, 2017] have gone up by over 9% from some of the major oil marketing companies though the majority are yet to do any adjustments.”

“It is worrying what sort of factors or figures influence such astronomical jumps and increases at a time when all variables indicate around 4% will be sustainable,” the statement signed by Executive Secretary Duncan Amoah said.

ADVERTISEMENT

The Chamber further accused Shell and Total of unreasonable price hikes and charged them to sell fuel based on prices that will be of interest to Ghanaians.

The statement urged the “incoming government to ensure the central role so far played by Ghana Oil Company (GOIL) in Ghana's deregulation environment is not in any way weakened or compromised as some OMCs have persistently demonstrated they will not hesitate in ripping the people off phenomenally if left to dictate the pace of pricing for Ghanaians”.

The Chamber, however, believes a stable currency will help address the issue of high fuel prices.

It has, therefore, called on the Central Bank to institute measures to stop the depreciation of the cedi.

Enhance Your Pulse News Experience!

Get rewards worth up to $20 when selected to participate in our exclusive focus group. Your input will help us to make informed decisions that align with your needs and preferences.

I've got feedback!
Europa

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.com.gh

ADVERTISEMENT