Fuel price hikes: Govt must intervene —GPRTU

The Ghana Private Road Transport Union (GPRTU), has called on the government to do all it can to halt further increase in fuel prices.

According to the Chairman of the Union, Kwame Kumah, the increase would have devastating effect on the business of its members with rippling effect on the economy.

He said the frequent hike was worrying and that the government should not watch on for it to continue.

Fuel prices from this Monday exceeded GhȻ5.00 per litre at major retail outlets in the country with that of diesel and petrol shooting up by about 3.4 per cent and 4.5 percent respectively.

Checks by the Ghanaian Times at Goil, Total and Shell, yesterday, showed that a litre of petrol which used to sell at GhȻ4.90 was going for GhȻ5.12 representing a GhȻ0.22 increase. Allied Oil was yet to increase its prices.

Previously selling at GhȻ4.94 per litre, diesel was GhȻ5. 12 with a GhȻ0.18 change. These changes imply that diesel which was hitherto more expensive is currently of the same value as petrol.

Despite the increase Mr Kumah said, fares would remain the same due to an agreement it had with the Ministry of Transport.

Significant factors for the hikes, according to the Institute of Energy Security (IES)   include the depreciation of the cedi by over three per cent against the dollar for early September as well as increase in Brent crude.

According to the Executive Director of the Institute, Kwesi Anamaog Sakyi, Ghanaians should brace themselves for more increases until the Cedi stabilised.

When contacted, the Head of Communications at the Ministry of Energy, Nana Damoah said the government would continue to engage all stakeholders to prepare alternatives that would lead to a more stable and affordable petroleum products.

 By Jonathan Donkor

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