Fuel prices must come down – ISSER boss charges gov’t

The Director of the Institute of Statistical, Social and Economic Research (ISSER), Professor Felix Asante, has called on government to get gritty by reducing fuel prices to reflect world market prices.

He said a gesture of that nature will not only exude confidence in the economy but also garner the trust of Ghanaians behind government.


He argued that if fuel prices are not reduced to reflect the current global figures, the people will feel shortchanged by the government.


Professor Asante made these suggestions on TV3’s Agenda on Thursday, November 13.


World crude oil prices have dropped by at least 30 per cent over the past few months but the National Petroleum Authority (NPA) has not effected that change in price as per its automatic price adjustment formula.


The Authority claims it will use the gains to recover its debts.

But the Director of ISSER said just like fuel prices in Ghana go up when world prices do same, they must come down to reflect the current situation.


“Prices must go up but certain times they must come down,” he said.


He suggested that "we need to build that trust” by such a gesture.


Meanwhile, Deputy Minority Leader Dominic Nitiwul continues his crusade to force NPA to reduce the prices.


He claims he will not relent until the Authority "does something" about the prices.