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02.04.2007 General News

Energy expert wants policy intervention in fuel pricing

By myjoyonline

Energy experts and oil market watchers are calling for a policy intervention to maintain the price of gasoline or diesel and reduce the cost of production on industry.

They would rather the price of gasoline is passed on to other products such as petrol and kerosene.

The call follows the recent upward adjustment in petroleum prices to between 6 to 8 percent across board for all products.

Petrol now sells at 8,202 cedis 54 pesewas per litre or 36,909 cedis 99 pesewas per gallon. Diesel is selling at 7,756 cedis 22 pesewas per litre or 34,902 cedis 99 pesewas a gallon.

The price of Kerosene is now 6,752 cedis 34 pesewas per litre or 30,385 cedis 53 pesewas a gallon with a kilogram of Liquefied Petroleum Gas going for 7,326 cedis 44 pesewas or 106,233 cedis 38 pesewas for a 14.5 kilograms cylinder.

But speaking on Joy FM's Super Morning Show, the former Chief Executive Officer of the Bulk Oil Storage Transport, Kwabena Donkor said government could absorb the price increases.

The Chief Executive of the National Petroleum Authority, John Attafuah however disagrees with the suggestion for intervention.
Energy Expert and a former minister in the NDC, Ato Ahwoi said the high fuel prices will further kill local industries.

Economic analyst Nii Moi Thompson rather blames the current fuel and energy crises on failure of government.

Details soon.