Gov’t working to secure affordable sources of petroleum products – Akufo-Addo
Government, according to President Akufo-Addo, is seeking to secure reliable and regular sources of affordable petroleum products for the Ghanaian downstream market.
The move by government, President Akufo-Addo noted, is to help mitigate the rising cost of fuel prices at the pumps.
According to the President, the new arrangement when successful, will halt the escalation of fuel prices and bring relief to Ghanaians.
“I know that the increasing cost of living is the number one concern for all of us. It is driven by fast escalating fuel prices at the pumps, which is caused by high crude oil prices on the world market and our depreciated currency. I know that this is putting intolerable pressure on families and businesses.
“I know that people are being driven to make choices they should not have to make, and I know that it has led to the devaluation of capital of traders and painfully accumulated savings.
“Further, Government is working to secure reliable and regular sources of affordable petroleum products for the Ghanaian market. It is expected that this arrangement, when successful, coupled with a stable currency will halt the escalation of fuel prices and bring relief to us all,” the President noted in a televised address on Sunday, October 30.
At the moment, price of petrol and diesel at the pumps go for GHS 17.54 pesewas and GHS 19.44 pesewas respectively – a more than 100 percentage points increment since the beginning of the year.
