The Ministry of Energy has acknowledged that the present ongoing increases in fuel costs are a major concern.
“Mr Speaker indeed it has been a challenge, this is a worldwide phenomenon that is happening,” he said.
Speaking on the floor of Parliament on Wednesday, Deputy Energy Minister William Owuraku Aidoo stated that while the increase is a change, they are working hard to solve it.
He pleaded with the people to hope that the government’s actions to address the rise in petroleum products “will continue to give us ample supply of petroleum in our nation.”
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Fuel costs are expected to rise by at least one cedi this week, causing commercial transportation operators to suggest that fares may be raised again.
In response, Mr. Owuraku Aidoo stated that the situation might have been worse because other nations do not even have enough fuel.
The Ministry also detailed some of the steps the government has taken to mitigate the impact on consumers.
According to Mr Aidoo, the government cut margins in the petroleum price increase by 15p per litre from April 1, 2022.”
He added that “to help stabilize the petroleum products government instituted temporary forex cover for foreign imports through the Bank of Ghana.”
SOURCE: myjoyonline
