COPEC welcomes GH¢2 diesel subsidy but urges gov't to pursue long-term fuel strategy
The Chamber of Petroleum Consumers (COPEC) welcomed President John Dramani Mahama's directive for government to absorb GH¢2 on every litre of diesel. COPEC Executive Secretary Duncan Amoah described the intervention as a positive move, stating, "I do think that the government must intervene. It was a very positive intervention." This decision followed a sharp rise in diesel prices, which had pushed the cost close to GH¢20 per litre at some fuel stations.
Mr. Amoah explained that the focus on diesel was due to a significant gap between diesel and petrol prices, with petrol around GH¢14 to GH¢15 per litre, and diesel rising to about GH¢19 and approaching GH¢20 per litre. He noted a variance of almost four Ghana cedis between the two. Mr. Amoah suggested that some relief, perhaps 20 pesewas, could also have been extended to petrol users. He cautioned that fuel subsidies could place pressure on government finances.
Quick Summary
COPEC has welcomed President Mahama's directive for a GH¢2 diesel subsidy, describing it as a positive move. However, the chamber cautions against
Summary - read the full story for complete context.
Image: Joy Business
GhanaFront aggregates news from trusted sources. Click to read the original article.
Keywords
Explore related tagsMore from Joy Business
Related Stories
More from Business & Economy
Petrol prices tipped to fall from Nov. 1 as diesel floor rises
New NPA price floors could change what you pay at the pump - but will marketers pass them on?
5d ago•3 min read
