Ghanaians will be spared of the imminent increase in fuel prices on July 1, 2014.
This is because the National Petroleum Authority (NPA) has maintained the prices in its latest price review despite earlier indications of a 20% increase.
Officials of the NPA, the Chamber of the Bulk Oil Distribution Companies and other stakeholders met this weekend to deliberate on the price review and other matters.
In an interview with Citi News, the Public Relations Officer of the NPA, Yaro Kasambata explained that there will be no increment at least, for the next two weeks.
He indicated that his outfit is monitoring the situation and the public will be duly informed “if it will warrant an increment in two weeks and if the situation will remain the same for the next two weeks, we will let you know.”
This new development means that Petrol will still go for 2 cedis 73pesewas per litre, Diesel 2 cedis 68 pesewas, Kerosene 2 cedis 61 pesewas, Premix 1 cedi 25 pesewas while Liquefied Petroleum Gas is at 2 cedis 87 pesewas per kilogram.
The last time the prices changed was on April 16 when the price for Diesel fell by about 4percent.
Citi News has gathered an estimated GHC 50 million will be spent in this price subsidy.
Citi News has also learnt that government has so far paid about GHC 450 million out of the GHC 1.8 billion debt owed the Bulk Oil Distribution Companies (BDCs).
An acute fuel shortage hit the country last week following government’s indebtedness to the BDCs.
However, the release of the country’s strategic fuel reserves onto the market is bringing the situation under control.
By: Efua Idan Osam/citifmonline.com/Ghana