Click to read all about coronavirus →
"It is never true the Nana Addo led government has no power to reduce fuel prices in the country. I am ready to school them on better methods to do that”, a petroleum expert has said.
Mr. Duncan Amoah, who is the Executive Secretary of the Chamber of Petroleum Consumers of Ghana (COPEC) threw in the challenge on Accra FM on Tuesday.
His disclosure came as in response to government’s assertion that, it has no control over fuel prices reduction in the country.
“Some of us have learnt the management of fuel prices. I often throw challenges at them, but they don’t show up. I need one learned minister who claims he is really learned. Nobody can do that,” he boasted.
Nevertheless, Mr. Duncan revealed that, even when one tax is scraped off prices could be reduced to GHC17.00 per gallon compared to GHC20.00 on the prevailing market.
According to him, most taxes on fuel prices were introduced in the year 2015 as a way to support government, in the view that when world market prices shot up, government would then scrap those taxes.
“In 2015, fuel prices reduced on the world market and Ghana being an oil drilling nation consequently suffered, hence government decision to introduce some taxes to replace those deficits was to meet its projections. Ghanaians were to pay in other to help the government meet its projections,” he explained.
He added, “However, fuel prices on the world market have risen; therefore Ghanaians were expecting government to remove those taxes”.
The Energy Minister, Boakye Agyarko earlier stated that, fuel prices are determined by external forces hence government has no power to reduce.
But according to Duncan, government has the power over all 13 components of fuel prices except one (International Market price) which it can still manipulate.
Send your news stories to and via WhatsApp on +233 55 2699 625.