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Dr. Adu Owusu Sarkodie<\/p>\n
Economist Dr. Adu Owusu Sarkodie has welcomed the government decision to purchase oil from other countries or sources, saying, that will help control fuel prices and rising inflation.<\/p>\n
Fuel prices have shot up significantly at the pumps with petrol going for an average of \u00a218 per litre, whilst diesel is selling at \u00a223 per litre.<\/p>\n
Speaking to Joy Business, Dr. Owusu Sarkodie, said the government must act fast to lessen the burden on Ghanaians.<\/p>\n
\u201cThe President [Akufo-Addo] touched on so many things. Key among them is the high cost of living, high food and energy prices and the fact that he\u2019s doing something about it. For example he has started negotiations with other sources of oil; other countries or companies that produce oil at a lower price and also to keep the exchange rate stable\u201d.<\/p>\n
\u201cI think that will also help check the price of the fuel because we know the high cost of fuel price is driving the high cost of prices of items through high transport costs in the country\u201d, he explained.<\/p>\n
He pointed out the government\u2019s ability to control fuel prices would stabilise and reduce prices of foodstuffs ad certain goods in the market.<\/p>\n
\u00a0\u201cSo if we are able to control fuel prices we would be able to control prices of so many items within the economy\u201d.<\/p>\n
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