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Government Has No Solution For Fuel Price Hikes – IES



The Institute for Energy Security (IES) has told Ghanaians to brace themselves for continuous fuel price hikes.

According to the institute, government seem to have no solution to the constant hikes and have only resorted to the ‘knee jerk’ approach to address the issue.

Currently, a litre of petrol and diesel is selling at GH¢6.80 at the various filling stations.  The opposition National Democratic Congress (NDC) has accused the government of insensitivity as a result.

The government subsequently promised the removal of the Price Stabilization and Recovery Levies (PRSL) component of fuel prices for only two months.

Executive Director of the IES, Nana Amoasi VII, believes the government have no idea how to tackle the problem.

“If care is not taken, we will see this price surging on the market consistently. You will ask how the government will negotiate to solve the situation, but unfortunately, where the government sits today, it will be able to reduce these taxes by more than 10 percent and the approach the government has taken, we call it knee-jerk because it is not sustainable.”

“There are other things the government must do to ensure that fuel prices remain stable. You can take away all the taxes, but trust me because we have mechanisms that have broken down, we will still come to the same GH¢6.80 per litre in less than six months because we have become price takers”, he emphasized.

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