{"id":173417,"date":"2024-04-20T12:40:12","date_gmt":"2024-04-20T12:40:12","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/04\/20\/fuel-price-hikes-strengthening-cedi-must-be-top-priority\/"},"modified":"2024-04-20T12:40:12","modified_gmt":"2024-04-20T12:40:12","slug":"fuel-price-hikes-strengthening-cedi-must-be-top-priority","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/04\/20\/fuel-price-hikes-strengthening-cedi-must-be-top-priority\/","title":{"rendered":"Fuel price hikes: Strengthening Cedi must be top priority"},"content":{"rendered":"

<\/p>\n

\n

The Executive Secretary of the Chamber of Petroleum Consumers (COPEC) has urged the government to focus on strengthening the Cedi to ensure a reduction in the prices of petroleum products.<\/p>\n

Prices of petroleum products have been on a free fall in the past weeks and further worsened with the reversal of the suspension of the Price Stabilization and Recovery Levy.<\/p>\n

Executive Secretary of COPEC, Duncan Amoah, on\u00a0The Big Issue\u00a0<\/strong><\/em>on\u00a0Citi FM\u00a0<\/strong>and\u00a0Citi TV\u00a0<\/strong>blamed the price increases on a weaker currency and urged the government to strategise on improving the strength of the Cedi.<\/p>\n

\u201cWhat we can do as a country at this point is really to strategise on your currency and do whatever magic that had been done because before August 2022, prices of petroleum products did hike and at a point, diesel and petrol were crossing GH\u00a221 and for some reasons, we were able to cool those two off.<\/p>\n

\u201cThe Cedi had also depreciated to almost GH\u00a217 exchange to a Dollar and the Bank of Ghana for whatever magic, was able to reverse the depreciation back to GH\u00a212 and so if you have any of those things down your sleeve, there could be no better time to apply that kind of a solution than at this point when prices are simply going up daily.<\/p>\n

\u201cAt this point, taxes cannot be taken, give or take, we cannot influence Israel on Iran, we cannot influence Ukraine from bombing Russian refineries. What we can do at this point is to ensure that your Cedi is not doing too badly as we have seen in the past few weeks.<\/p>\n

\u201cOnce that happens, you are simply hanging yourself in the face of global market price trends and throwing your hands in despair.\u201d<\/p>\n\n

Explore the world of impactful news with CitiNewsroom on WhatsApp!<\/strong><\/em><\/p>\n

Click on the link to join the Citi Newsroom channel for curated, meaningful stories tailored just for YOU: https:\/\/whatsapp.com\/channel\/0029VaCYzPRAYlUPudDDe53x<\/strong><\/em><\/p>\n

No spams, just the stories that truly matter! #StayInformed #CitiNewsroom #CNRDigital<\/strong><\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

The Executive Secretary of the Chamber of Petroleum Consumers (COPEC) has urged the government to focus on strengthening the Cedi to ensure a reduction in the prices of petroleum products. Prices of petroleum products have been on a free fall in the past weeks and further worsened with the reversal of the suspension of the […]<\/p>\n","protected":false},"author":1,"featured_media":165261,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-173417","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"\nFuel price hikes: Strengthening Cedi must be top priority - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/04\/20\/fuel-price-hikes-strengthening-cedi-must-be-top-priority\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fuel price hikes: Strengthening Cedi must be top priority - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The Executive Secretary of the Chamber of Petroleum Consumers (COPEC) has urged the government to focus on strengthening the Cedi to ensure a reduction in the prices of petroleum products. Prices of petroleum products have been on a free fall in the past weeks and further worsened with the reversal of the suspension of the […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ghanamma.com\/2024\/04\/20\/fuel-price-hikes-strengthening-cedi-must-be-top-priority\/\" \/>\n<meta property=\"og:site_name\" content=\"Ghanamma.com\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-20T12:40:12+00:00\" \/>\n<meta name=\"author\" content=\"Ghana News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ghana News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/04\\\/20\\\/fuel-price-hikes-strengthening-cedi-must-be-top-priority\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/04\\\/20\\\/fuel-price-hikes-strengthening-cedi-must-be-top-priority\\\/\"},\"author\":{\"name\":\"Ghana News\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#\\\/schema\\\/person\\\/c70749f3edfbfcd92d45e933f0fe10b5\"},\"headline\":\"Fuel price hikes: Strengthening Cedi must be top priority\",\"datePublished\":\"2024-04-20T12:40:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/04\\\/20\\\/fuel-price-hikes-strengthening-cedi-must-be-top-priority\\\/\"},\"wordCount\":345,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/04\\\/20\\\/fuel-price-hikes-strengthening-cedi-must-be-top-priority\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"articleSection\":[\"Local News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/04\\\/20\\\/fuel-price-hikes-strengthening-cedi-must-be-top-priority\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/04\\\/20\\\/fuel-price-hikes-strengthening-cedi-must-be-top-priority\\\/\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/04\\\/20\\\/fuel-price-hikes-strengthening-cedi-must-be-top-priority\\\/\",\"name\":\"Fuel price hikes: Strengthening Cedi must be top priority - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/04\\\/20\\\/fuel-price-hikes-strengthening-cedi-must-be-top-priority\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/04\\\/20\\\/fuel-price-hikes-strengthening-cedi-must-be-top-priority\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"datePublished\":\"2024-04-20T12:40:12+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#\\\/schema\\\/person\\\/c70749f3edfbfcd92d45e933f0fe10b5\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/04\\\/20\\\/fuel-price-hikes-strengthening-cedi-must-be-top-priority\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/04\\\/20\\\/fuel-price-hikes-strengthening-cedi-must-be-top-priority\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/04\\\/20\\\/fuel-price-hikes-strengthening-cedi-must-be-top-priority\\\/#primaryimage\",\"url\":\"\",\"contentUrl\":\"\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/04\\\/20\\\/fuel-price-hikes-strengthening-cedi-must-be-top-priority\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Fuel price hikes: Strengthening Cedi must be top priority\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#website\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/\",\"name\":\"Ghanamma.com\",\"description\":\"Ghana mma provides breaking news, top stories in Ghana, Africa, business, entertainment, politics and more.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#\\\/schema\\\/person\\\/c70749f3edfbfcd92d45e933f0fe10b5\",\"name\":\"Ghana News\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"caption\":\"Ghana News\"},\"sameAs\":[\"https:\\\/\\\/www.ghanamma.com\\\/2024\"],\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/author\\\/ghanamma\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Fuel price hikes: Strengthening Cedi must be top priority - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2024\/04\/20\/fuel-price-hikes-strengthening-cedi-must-be-top-priority\/","og_locale":"en_US","og_type":"article","og_title":"Fuel price hikes: Strengthening Cedi must be top priority - Ghanamma.com","og_description":"The Executive Secretary of the Chamber of Petroleum Consumers (COPEC) has urged the government to focus on strengthening the Cedi to ensure a reduction in the prices of petroleum products. Prices of petroleum products have been on a free fall in the past weeks and further worsened with the reversal of the suspension of the […]","og_url":"https:\/\/www.ghanamma.com\/2024\/04\/20\/fuel-price-hikes-strengthening-cedi-must-be-top-priority\/","og_site_name":"Ghanamma.com","article_published_time":"2024-04-20T12:40:12+00:00","author":"Ghana News","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Ghana News","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.ghanamma.com\/2024\/04\/20\/fuel-price-hikes-strengthening-cedi-must-be-top-priority\/#article","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2024\/04\/20\/fuel-price-hikes-strengthening-cedi-must-be-top-priority\/"},"author":{"name":"Ghana News","@id":"https:\/\/www.ghanamma.com\/2024\/#\/schema\/person\/c70749f3edfbfcd92d45e933f0fe10b5"},"headline":"Fuel price hikes: Strengthening Cedi must be top priority","datePublished":"2024-04-20T12:40:12+00:00","mainEntityOfPage":{"@id":"https:\/\/www.ghanamma.com\/2024\/04\/20\/fuel-price-hikes-strengthening-cedi-must-be-top-priority\/"},"wordCount":345,"commentCount":0,"image":{"@id":"https:\/\/www.ghanamma.com\/2024\/04\/20\/fuel-price-hikes-strengthening-cedi-must-be-top-priority\/#primaryimage"},"thumbnailUrl":"","articleSection":["Local News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.ghanamma.com\/2024\/04\/20\/fuel-price-hikes-strengthening-cedi-must-be-top-priority\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.ghanamma.com\/2024\/04\/20\/fuel-price-hikes-strengthening-cedi-must-be-top-priority\/","url":"https:\/\/www.ghanamma.com\/2024\/04\/20\/fuel-price-hikes-strengthening-cedi-must-be-top-priority\/","name":"Fuel price hikes: Strengthening Cedi must be top priority - Ghanamma.com","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2024\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.ghanamma.com\/2024\/04\/20\/fuel-price-hikes-strengthening-cedi-must-be-top-priority\/#primaryimage"},"image":{"@id":"https:\/\/www.ghanamma.com\/2024\/04\/20\/fuel-price-hikes-strengthening-cedi-must-be-top-priority\/#primaryimage"},"thumbnailUrl":"","datePublished":"2024-04-20T12:40:12+00:00","author":{"@id":"https:\/\/www.ghanamma.com\/2024\/#\/schema\/person\/c70749f3edfbfcd92d45e933f0fe10b5"},"breadcrumb":{"@id":"https:\/\/www.ghanamma.com\/2024\/04\/20\/fuel-price-hikes-strengthening-cedi-must-be-top-priority\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ghanamma.com\/2024\/04\/20\/fuel-price-hikes-strengthening-cedi-must-be-top-priority\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ghanamma.com\/2024\/04\/20\/fuel-price-hikes-strengthening-cedi-must-be-top-priority\/#primaryimage","url":"","contentUrl":""},{"@type":"BreadcrumbList","@id":"https:\/\/www.ghanamma.com\/2024\/04\/20\/fuel-price-hikes-strengthening-cedi-must-be-top-priority\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.ghanamma.com\/2024\/"},{"@type":"ListItem","position":2,"name":"Fuel price hikes: Strengthening Cedi must be top priority"}]},{"@type":"WebSite","@id":"https:\/\/www.ghanamma.com\/2024\/#website","url":"https:\/\/www.ghanamma.com\/2024\/","name":"Ghanamma.com","description":"Ghana mma provides breaking news, top stories in Ghana, Africa, business, entertainment, politics and more.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ghanamma.com\/2024\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.ghanamma.com\/2024\/#\/schema\/person\/c70749f3edfbfcd92d45e933f0fe10b5","name":"Ghana News","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","caption":"Ghana News"},"sameAs":["https:\/\/www.ghanamma.com\/2024"],"url":"https:\/\/www.ghanamma.com\/2024\/author\/ghanamma\/"}]}},"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/posts\/173417","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/comments?post=173417"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/posts\/173417\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/media?parent=173417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/categories?post=173417"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/tags?post=173417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}