[ 2014-10-20 ]

2% fuel price reduction an “insult”– ACEP
The head of the Africa Centre for Energy Policy
(ACEP), John Peter Amewu, has described the two
per cent reduction in fuel prices in Ghana as
“an insult”.

The National Petroleum Authority (NPA) Monday
announced the reduction, despite the Energy
Minister’s stance that the government will not
reduce the prices. Crude oil prices on the world
market have declined from an average of $109 per
barrel in January, this year to $81.14.

The ACEP boss feels Ghanaians “deserve much
better reduction” than the “2% reduction
insult”.

Speaking to Accra-based Citi FM, Amewu said the
reduction does not correlate with the actual
prices on the world market because it is extremely
insignificant.

“Two per cent reduction does not actually
reflect the downward prices of petrol. You are
giving us about two percent when crude oil prices
have reduced” drastically, he pointed out.

Amewu said the government must be
“transparent” enough to let Ghanaians know
what went into the two per cent reduction because
“it is an insult to Ghanaians.”

According to the NPA, it took the decision because
prices have dropped on the world market. The
reduction will take effect at the pumps from
October 21, 2014.

Source - Starrfmonline

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