NPA Under More Pressure To Reduce Fuel Prices

Energy Think Tank African Centre for Energy Policy(ACEP) has said it is disappointed by refusal of the National Petroleum Authority (NPA) to reduce fuel prices after its bi-monthly review.

According to ACEP, the NPA is destroying the confidence of the consumer in its activities with the continuous failure to reduce prices.

Two weeks ago, government announced a 10 percent reduction in fuel prices after pressure from various political and pressure groups.

A press statement issued by the NPA indicated that the decision to review fuel prices forms part of efforts to “reflect falling prices of petroleum product on the world market.” However in its latest price review released today [Friday], the NPA maintained fuel prices. Speaking in an interview with Citi News, the Director of Programmes at the ACEP, Benjamin Boakye said the NPA’s decision to maintain prices of fuel is not advisable.

“I think that it is very disappointing that the NPA decided not to reduce prices further. We still continue to see prices drop on the world stage and for whatever reason we are still holding to a certain margin… that is not good enough” He therefore asked Ghanaians to put more pressure on government to reduce fuel prices. “I think the media has a role play, society has a role to play, and even the political parties have a role to play….When issues of this nature prop up all of us have to jump in and push for the right thing to be done,” he suggested.

“Once you are managing, it deosn’t mean that you own the people. When they have to benefit from a reduction, there has to be a reduction so that people can also enjoy it,” he added. There have been several calls for the NPA to further reduce fuel prices. President Mahama however believes the introduction of a mitigation levy will cushion consumers of petroleum products when the price of crude begins to rise.

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