Government urged to take measures to address impact of recent fuel hikes

The government of Ghana has been urged to take measures to ameliorate the impact of the fuel price hikes on businesses and the general public.

On Tuesday, July 16, 2024, Ghanaians were hit with the news that some Oil Marketing Companies (OMCs) across the country have started to increase their prices for petroleum products at the pumps as the second pricing window for July has begun.

Checks by GhanaWeb Business showed that leading oil marketing companies such as Shell have raised the price of a litre of petrol from GH¢14.80 to GH¢15.10.

Similarly, the price of a litre of diesel has gone up from GH¢14.92 to GH¢15.25.

Following the development, transport operators in the country have announced a 15 percent increase in transport prices, effective Monday, July 22, 2024.

Reacting to the story, Jinsah Abdul-Mattheen Sali said that the development is bad news for businesses that are already reeling under intense economic pressure.

General Mattheen posited that the government must act swiftly with some interventions that will save businesses and the public from the impact of the fuel price increment.

He explained that the consistent upward trajectory of the prices serves as a disincentive to potential investors and that the government must address the situation.

“The earlier the government does something about these fuel price hikes, the better. We can’t go on like this because businesses are suffering. If the government has to engage the OMCs and shoulder some of the cost, they should do it because this is bad news for businesses.

“You can’t operate in an environment where prices are constantly going up and I believe the government must come up with something to alleviate the impact of the recent increment on Ghanaians and the businesses,” he said.

EK