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The Executive Director of the Institute for Energy Security, Nana Amoasi VII, has described the government\u2019s attempts to find more affordable petroleum products<\/strong> amid the economic crisis as wasteful and impossible.<\/p>\n Speaking on The Big Issue, Nana Amoasi VII said the players in the petroleum sector would have utilised links to cheaper fuel by now if possible.<\/p>\n \u201cIf there is somewhere that we have heavily discounted fuel that can cushion our situation, I am certain that the BDCs and the OMCs will be the first to jump on this.\u201d<\/p>\n If the government did secure a deal for cheaper fuel, Nana Amoasi VII said such a move should be proved and Ghanaians must ask \u201cwhat did they give in return for such a huge favour.\u201d<\/p>\n Nana Amoasi VII also criticised the overall attempt by the government to look for cheaper fuel, as outlined by the President during a speech on Ghana\u2019s economic crisis.<\/p>\n The IES boss called it a \u201crecipe for disinvestment\u201d because of the wrong signals it would send to the international market.<\/p>\n \u201cIt will stifle investment and worsen the present case of under-investment in the energy or the petroleum sector because it can potentially cause an unwanted case of excess supply.\u201d<\/p>\n \u201cWe will be giving the signal that we prioritise the importation of fuel while ignoring local investment,\u201d Nana Amoasi VII said.<\/p>\n Currently, some Oil Marketing Companies are selling products for as high as GHS23.<\/p>\n The rising costs have been due to the high exchange rate affecting the prices of fuel on the international market.<\/p>\n