The National Democratic Congress (NDC) as a matter of urgency is demanding an immediate and drastic reduction of minimum 20% in the pump prices of fuel from the ruling NPP government.
In a statement signed by the communication Officer, Sammy Gyamfi, he stated that; "the declining prices of crude oil on the international market, coupled with the artificial stability the Ghana cedi appears to be chalking, which is largely due to the Coronavirus outbreak and the injection of the recent $3 billion Eurobond into the economy, should have led to a significant drop in the pump prices of fuel by now."
He indicated that; "the Akufo-Addo government has deliberately refused to pass on the significant reduction in the prices of crude oil on the global market to petroleum consumers in Ghana...within the period that crude oil prices have experienced a significant decline on the international market, consumers have only been given an insignificant and paltry reduction of 28 pesewas at the pump, from Ghs 5.62 in January 2020 to the current average price of Ghs 5.38."
"We call on the President to as a matter of urgency, ensure an immediate and drastic reduction of minimum 20% in the pump prices of fuel. Anything short of this should be fiercely rejected by the Ghanaian people. This, we believe, will reduce the extreme economic hardship in the country and ameliorate the plight of suffering Ghanaians," portion of the statement read.
Read full statement below;
The National Democratic Congress (NDC) has taken notice of the continuous reduction of the price of Brent crude on the international market in the last two (2) months. Specifically, we have noted how the price of Brent crude has declined by over 45%, from an average price of $63.60 per barrel in January 2020 to $36 per barrel currently.
There is no gainsaying the fact that, the declining prices of crude oil on the international market, coupled with the artificial stability the Ghana cedi appears to be chalking, which is largely due to the Coronavirus outbreak and the injection of the recent $3 billion Eurobond into the economy, should have led to a significant drop in the pump prices of fuel by now.
Unfortunately but predictably, the Akufo-Addo government has deliberately refused to pass on the significant reduction in the prices of crude oil on the global market to petroleum consumers in Ghana. Within the period that crude oil prices have experienced a significant decline on the international market, consumers have only been given an insignificant and paltry reduction of 28 pesewas at the pump, from Ghs 5.62 in January 2020 to the current average price of Ghs 5.38.
This is callous and insulting to the sensibilities of Ghanaians who are going through excruciating hardships as a result of persistent increases in the pump prices of fuel, cumulatively by over 50% in three (3) years, especially given the fact that President Akufo-Addo whilst in opposition criticized the erstwhile Mahama regime for exorbitant fuel prices and promised to reduce same if elected.
The NDC is appalled by this display of gross insensitivity by President Akufo-Addo who has consistently flattered to deceive on his promise to reduce fuel prices and all his flagship campaign promises.
In line with current happenings on the international and local market, we call on the President to as a matter of urgency, ensure an immediate and drastic reduction of minimum 20% in the pump prices of fuel. Anything short of this should be fiercely rejected by the Ghanaian people. This, we believe, will reduce the extreme economic hardship in the country and ameliorate the plight of suffering Ghanaians.
Signed,
SAMMY GYAMFI
NATIONAL COMMUNICATION OFFICER
Source: Peacefmonline.com
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NDC should keep quiet and learn how to manage IMF free economy: An economy independent of IMF directives!!
I remember the Automatic Adjustment ? 2015 when crude oil fall on $40 per ball ,what was the price then ?NDC Mahama has nothing good to talk about When they come to power the nest thing is to increase fuel price just to raise money the lost for campaigning This politicians mmmmmmmmmmmmmm
People like @Ghana ba are very insidious. @Nii is also asking for programme os action. If you are politicians or political commentators with your own agenda, fine. When NDC was in power, people like you did not ask for alternative programmes but said Mahama was insensitive and incompetent. These pronouncements are lost on you guys and you now want solutions from the so called incompetent NDC. Its shocking. On the other hand, Sammy Gyamfi has now seen that petrol prices are too high and that President Akuffo Addo is insensitive. I remember when they were in power, they proferred various reasons why they had to increase petrol prices and making political statements out of it. I concede that crude oil prices were higher during Mahamas time but it had a downward trajectory but yet still, they found reasons why they should raise petrol prices. Someone will be surprised that i am not in favour of any of the political positions expressed on petroleum pricing. Yes this is because we as ordinary people are suffering because of the intransigence and outright l1es told by all parties on this issue. Those arguing against Sammy Gyamfi on this issue are politicians and political affiliated. Sammy Gyamfi and his cohorts also have their political interest. What about Auntie Yaa who sells Waakye by the side of the road? Who should not be hoodwinked by their shabby political positions and swallow whatever they say on this matter. Look Brent Crude has been selling on the average of $46 pere barrel for over a year. The trade war between Saudi Arabia and Russia has not affected the world crude prices. This is because the US is pumping more crude than ever before. The corona virus effect is not facilitating trade so it is slow. Coioncidentally i am listening to financial news right now and the Saudi Russia trade war has abated this week. The airlines are suffering so they are not purchasing fuel as they used to in particular for the long haul flights and remember they consume a higher amount of crude. Dow, Nasdaq, FSTE have all fallen due to a reduction of trade and the price of crude is likely to fall so these politicians and their affiliates are just telling plain l1es. We rather need a social movement to inform all the politicians and their affiliates that we are fed up with their l1es. I landed in the UK a few days ago and petrol prices have rather dropped. ASDA and Tesco have slashed prices. Even on the motor ways where prices are relatively high is about 1.25p max a litter so what are our politicians telling us? Ordinary people should rise up. We are not angry enough asa the hero worshipping and power distance is too high. Thisa sychophancy is suffocating. For ones, i support A - Plus but just that i cannot trust him.
Something indeed is nothing ! You people are so confused that you talk anyhow and that doesnt win power, ndc eill take over 30 years to get well organized to the liking of Ghanaians because you dont make sense in anything you sound funny and jokers in Ghana .Ghana doesn't need hungry men hungry for power but serious minded people for development and ndc has no power in Ghana for the government to listen to, the government will listen and take to sensible people with solution not hungry people with anger ! Thank God ndc has no credibilty in Ghana and the people trust the government more than them.
This Nana Addo led NPP govt is insentitive to the plights of Ghanaians. They just came to steal, eat and drink. They claim to know everything but they know nothing; disgracing themselves with scandals on daily basis.Come on, reduce the price of fuel as admonished by the NDC.This is your last year in office so do something before you go to opposition in December.
The earlier comments shows one thing. you guys have myopic insight about how petroleum products are priced in Ghana. you guys should stop doing the bidding of the politician and think. read about pricing formula of petroleum products before you comment. Have you asked yourself why the government inconstantly apply price hikes in petroleum prices. if you don't know don't comment for it sake. wise up guys.
These behaviours does not win votes, come out with your program of actions. World prices in the morning and you want changes to be effected by close of the day. What about the ones that are already in stock which was bought at the previous prices, how much does NDC want them to be sold?
That is the reason why this people fail when they are in government. They like taking hasty decisions. We are just been told of the trade war between Saudi Arabia and Russia. This issue have to be monitored before government act and you are here behaving like you know it all.