Fuel to sell at 12,000.00?

The Government is to adjust upwards, the price of premium petrol from 6,400 cedis to about 12,000 cedis, \'The Ghanaian Times\' reported.

The increase may, however, not be made at one go but periodically to make its effect bearable. Mr F.K. Owusu Agyapong, Minister of Transport and Communications, dropped the hint in Accra on Monday at a meeting with editors of both the print and electronic media.

He said the adjustment would only be made after consultations with the various stakeholders in the energy sector.

The price of kerosene, he said, may not change in view of the effect its increase would have on vulnerable groups such as those in the rural communities and there will also not be an adjustment in diesel price since it could be easily substituted by kerosene to cause shortages in the latter. Liquefied Petroleum Gas (LPG) may also not go up because of the ramifications an upward price adjustment would have on the country\'s forest resources.

The Minister said that the Government was aware of the 18 per cent increase on transportation costs that would emanate from the new adjustment but said it has become necessary due to the 3 trillion cedis incurred deficit plus a 6 billion-cedi daily debt that is being realized.