In the last pricing window, like a thief who comes in the night to steal, we woke up to the news of increment in fuel prices.
The increments recorded last week represent about 2.74percent change in price or 0.14 pesewas increment on every litre, this is the second time in barely two months.
Currently, a litre of diesel and petrol is being sold at GH¢5.21 across all major filling stations, including Total and Shell.
Consistently, since coming into office of this administration, the country has continued to experience fuel price increment, this unfortunately is in sharp contrast to the promise we were made in the run up to the 2016 election.
Chief Executive Officer (CEO) of National Petroleum Authourity (NPA), Alhassan Tampuli, who was silenced all the time that, prices of petroleum product had gone up, announced on Wednesday at an Industry Stakeholder Engagement Seminar that, prices of petroleum products are likely to be reduced in the next pricing window as a result of the appreciation for the Ghana cedi against the US dollar and decrease in the price of petroleum products on the world market.
We do not doubt his optimism, but we are a little taken aback with the apparent attempt to claim credit for the impending decrease, which according to him, is likely to come down.
On Monday, October 29, a group calling itself the Ghana Committed Drivers Association of Ghana (CDAG), has indicated that it would increase transport fares by 20 percent.
According to CDAG, their decision is as a result of the continuous hike in fuel prices.
Anytime the NPA, is confronted when prices go up, they remind us of deregulation, and that they do not set prices at the pump, this is despite the reminder that taxes on the product, especially Special petroleum tax, which represents about 10percent of the price of fuel per litre.
We shudder to imagine the extent of the reverberating effect a hike in transport fares, will have on the citizens.
There is no gainsaying it, in our opinion, what a 20 percent increment in fares will do to the people, who are already reeling under worsening economic condition.