The National Petroleum Authority’s (NPA) Acting Chief Executive Officer, Edudzi Tameklo, has promised to put strategic measures in place to lower the price of petroleum products and make them affordable for Ghanaians.
His reassurance comes at a time when consumers are feeling the pinch of sharp increases in petrol prices.
For example, in January, state-owned GOIL raised the price of diesel from GH₵15.60 per litre to GH₵15.77, and changed the price of petrol from GH₵14.99 per litre in the first pricing window to GH₵15.29.
Shell also increased the price of their gasoline from GH₵15.30 to GH₵15.59 per liter and diesel from GH₵15.66 to GH₵15.79.
Global changes in the price of crude oil and the Ghanaian cedi’s ongoing devaluation versus major trading currencies have been the main causes of these price hikes.
Edudzi Tameklo responded to the crisis by restating the NPA’s resolve to enact policies that would stabilize fuel prices.
“We are going to ensure the needed reforms. What I can assure the good people of this country is that, Ghanaians will have cheaper and quality fuel. A whole team is exploring all avenues. For the ordinary driver and household, I can assure you that President Mahama is determined that you get cheaper, quality and reliable fuel”, he said during a media interaction.
The NPA’s emphasis on tackling growing fuel prices is consistent with its overarching goal of efficiently regulating the downstream petroleum industry while defending the interests of stakeholders and consumers.
