Fuel price increases: You need thinkers to solve the problem, don’t blame Russia – COPEC

As Ghanaians brace up for further rounds of fuel price increases and their attendant impacts on their everyday lives, the Chamber for Petroleum Consumers (COPEC) has expressed worry with government’s refusal to “own the problem”.

Head of Research at COPEC tells Sena Nombo on the Gold Power Drive that this refusal to own the problem is the reason government was yet to provide any efficient solution to the fuel price inflation.

He said the stance of government betray the fact that government does not have the thinkers required to solve the problem

The Nana Akufo-Addo has blamed COVID-19 pandemic and its attendant supply chain challenges and the Ukraine-Russia conflict for the unending rampant increases in fuel prices that has taken oil above the GH¢10 mark and racing towards GH¢20 mark in the spate of less than 6 months.

Benjamin Nsiah however says government’s analysis was inconsistent with the trend across the West African sub-region.

Despite admitting that the global developments have affected the prices of fuel across the world, Benjamin Nsiah says no country has experienced the rampant fuel price increases that Ghanaians have suffered.

According to Benjamin Nsiah Ghana’s rampant fuel price increases are exacerbated by the weak cedi.

He said the prices charged for fuel are higher than that charged by Ghana’s neighbours who buy the finished product from the same country.

Mr. Nsiah is worried government does not see the seriousness of the problem that has led to unending increases in fuel prices as this affects transportation which impacts general inflation.

He wondered why Russia, the country that has become the Ghana government’s whipping boy has been able to use policy to tackle the depreciation of their currency while Ghana’s cedi continues to falter against its major trading partners.

Source: Radiogoldlive.com