Business News of 2014-07-01

Drivers take advantage of petrol shortage

Petrol shortage in the Upper East Region on Monday hit its fifth day and drivers and businesses have taken advantage of the situation to charge exorbitantly for their services.
Taxi drivers operating in the Municipality now charge GH¢2.00 and instead of GH¢1.00, Bolgatanga to Zuarungu Estate is GH¢1.50 and GH¢2.00 to the Regional Hospital. Fuel stations are displaying “No Petrol” signs but brisk business goes on close to the filling stations as young men retail fuel in bottles.
A survey conducted by GNA showed that 1.5 litres of Voltic bottle filled with petrol was sold at GH¢ 10.00, a beer bottle of petrol went for GH¢7.00 and in the afternoon the same Voltic bottle of petrol shot up to GH¢15.00.
Mr Francis Agetuik said he made a profit of GH¢70.00 after retailing a gallon of petrol he bought from Pwalugu at GH¢60.00. Riders and the general public blamed the situation on government inability to settle its indebtedness with the bulk oil company.
Mr Maxwell Yoma, a businessman, said his company used about 45,000 liters of fuel every three days and since his vehicles were still in Accra and that had grounded the business because the company was not hooked to electricity yet and as such buying fuel to run the generators was expensive.
Mr Yoma said the shortage had brought the country to a halt because business operations could not progress and added that the daily increment also affected expenditure and budget plans. He said cold stores have also suffered the brunt of the shortage since some run on generators for storage of their goods.
Source: GNA
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