The ongoing conflict between Russia and Ukraine is the chief causer of the continuous hike in the prices of fuel in the country, this is according to Abass Ibrahim, the head of pricing at the National Petroleum Authority (NPA).
In the last three months, Ghanaians have been hit hard with the constant increases in the prices of petroleum products in the country.
Things have, however, gone from bad to worst in the last few weeks when Russia waged war against Ukraine.
Speaking to Asaase Radio in an interview on Wednesday, March 16, 2022, Abass Ibrahim says the conflict between the two European counties is the main cause of the astronomical fuel price increases in the country.
“We haven’t seen fuel prices escalate this much for the past 40 years and none of us could have anticipated this. The Russia-Ukraine war is the chief causer,” the Head of Pricing at NPA shared.
Meanwhile, experts are projecting that the prices of fuel in the country could hit GHS10 per litre by the end of March.
The Institue of Energy Security (IES) projects that the price of Liquefied Petroleum Gas (LPG) will go up by 3 per cent, it has disclosed that petrol and diesel would go up by 5 per cent and 9 per cent respectively.
Meanwhile, the Concerned Drivers Association of Ghana (C-DAG) is threatening to introduce drastic measures that will affect Ghanaians should the government refuse to reduce the prices of fuel in the country after a week.
The group has given the government a one-week ultimatum to scrap some of the taxes on petroleum products to bring down the prices of fuel at the pumps.
