Measures are being put in place, according to the Executive Secretary of the Chamber, Duncan Amoah, to help offset the growing cost of fuel.
“We anticipate that the price of diesel will decrease from GH23 to somewhere around GH21.19 and that the price of gasoline would decrease from GH17.99 to somewhere around GH17.10 or GH17.00.
On Wednesday, November 9, he said on Joy Prime, “All things being equal, diesel might go down by GH2.00 a litre and petrol could fall down to a cedi per litre based on the forex data that we have picked over the previous one week.”
He clarified, however, that the recent increase in the cost of diesel, gasoline, and kerosene is a result of the higher taxes on petroleum goods.
Mr. Amoah added that the National Petroleum Authority (NPA), the regulator, should not be held accountable for the price hike.
He attributed the country’s poor economic management to the government.
He urges the government to limit the increase in petroleum taxes because it could result in job losses in the industry.
While gasoline is now costing around GH18, diesel is currently retailing for more than GH23.
In a similar incident, Mohammed Abdul-Kudus, the NPA’s public relations officer, believes that the devaluation of the cedi, not taxes, should be held responsible for the price increase.