A Deputy Energy Minister, William Owuraku Aidoo has asked Ghanaians to blame the hikes in petroleum products on the Russia-Ukraine war and the depreciation of the Ghanaian cedi.
The Deputy Minister also stated that the government is unable to do much about the prices due to the deregulated regime for pricing petroleum prices in the country.
“Sanctions and boycotts on petroleum exports from Russia, a major exporter especially to Europe, are reducing availability even further and intensifying upward pressure on fuel prices. Under the current deregulated regime in Ghana where govenrment is not responsible for determining the prices of petroleum products, prices on the global market and the depreciation of the Ghana cedi against the US dollar are passed on directly to the end-consumer,” he said on Wednesday when he appeared on the floor of parliament.
Meanwhile, William Owureko Aidoo has disclosed that the government has paid Ghc 563.4 million in 3 tranch payments to the Nigeria Gas Company Ltd ( N-Gas ) between March 2018 to July 2019 through the Ministry of Energy and the Energy Sector Levies Act ( ESLA ) PLC.
He made this known in an answer to a question posed by Hon Frank Annoh- Dompreh Majority Chief Whip and MP for Nsawam / Adoagyiri.
Hon Annoh- Dompreh wanted to know how the government settled the debt owed to Nigeria Gas Company ( N- Gas ) through the Energy Sector Levy.
By: Rainbowradioonline.com/Ghana
