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20.04.2006 General News

Ghanaians asked to brace up for petrol price increases

By myjoyonline

Crude oil prices have been on the increase on the world market in recent weeks following differences between the US and Iran over Iran's Nuclear programme.

This has increased speculation that the increasing price would be passed on to ordinary consumers. Speaking to JOY Business report, Daniel Ogbamey Tetteh who is also the head of Research at Databank Financial services said the deregulation of the petroleum sector; government has no choice than to pass on the increasing prices of petroleum products onto the final consumer.

According to him, the National Petroleum Authority should embark upon a massive education exercise.

But an economic consultant, Dr. Nii Moi Thompson who has been a long time advocate of deregulation of the sector thinks the NPA can pass on the prices to the Oil Marketing Companies to display instead of holding a press conference.