Member of Parliament for Bongo, Mr Edward Bawa has predicted that fuel prices will hit 9 cedis per liter by the end of March.
Fuel price have crossed the ¢8 per litre mark.
Edward Bawa expressed fears that if the government does not act immediately, the prices will shoot up by the end of the month.
“Let us be honest, if the government does not do anything and the next window, which is on the 16th of March, there is going to be an increase in fuel prices,” the opposition lawmaker said.
He stressed that “By the close of the moth we will hit 9 cedis per litre.”
Regarding the impact of the tension between Russia and Ukraine, he said the situation is a blessing in disguise for Ghana because the country is also an oil-producing nation.
“You and I know that obviously Ukraine would have definitely had an effect on us but before Ukraine’s invasion there were was an increase in petroleum prices in Ghana.
“We are in the winter period and the demand for hydrocarbons in Europe and America were very high so, we were already in the ascending form, so that cannot be the case.
“Ukraine may have aggravated the situation but I am saying, in that particular state it is a blessing in disguise. While we complain about the prices in the local level, we are also always smiling to the bank because of the moneys we get from selling [crude oil] products. So it is a win-win in my opinion,” he told journalists in Parliament on Thursday March 10.
GhanaFeed.com
