Fuel Prices Debate: Felix Kwakye Ofosu Compares Mahama and Akufo-Addo Era Costs
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Minister for Government Communications Felix Kwakye Ofosu has explained the factors behind Ghana's fuel prices, comparing current prices to the situation in November 2022 under the previous administration.
Speaking on Face to Face with Umaru Sanda Amadu on Channel One TV, Mr. Kwakye Ofosu argued that while global crude oil prices remain around similar levels to November 2022, the major difference is the strength of the Ghana cedi against the US dollar.
He explained that in November 2022, crude oil prices were around $84–$86 per barrel, but the exchange rate was approximately GH¢17.20 to US$1, compared to the current exchange rate of about GH¢12 to US$1.
According to him, the stronger cedi has contributed significantly to lower pump prices, adding that government's management of fuel pricing has resulted in sustained reductions in fuel prices.
The Minister also addressed Ghana's relations with South Africa, dismissing suggestions of diplomatic tension between both countries.
He explained that the delayed visit of South Africa's President was linked to concerns over xenophobic attacks affecting Ghanaians and other African nationals, saying both countries remain committed to maintaining cordial relations.
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