Ghanaians Should Be Smiling As Fuel Prices Reduced but This is What Fuel Companies are doing

Petrol is the most important commodity in the industrial sector of a country. Almost all cars use fuel to run and without it, the entire world comes to a standstill. Due to its useful nature and because it is in high demand, suppliers won’t hesitate to increase the price.

Somewhere in March of this year, there was a general reduction in the price of crude oil. It was a kind of price decline that has not happened for decades. Almost every Ghanaian was expecting an immediate fall in the prices of petrol products but that didn’t come immediately.

It took almost three weeks before they offered a 10% reduction when indeed crude oil dropped by nearly 36%.

Ghanaians should have been smiling by now because the prices should have gone down but fuel companies are making sure that you pay more even if all conditions demand that you pay less.

Our government is equally not helping us. When there is an increase in the price of crude oil on the international market, the oil companies are quick to stop sales just to get the government to respond to the corresponding increase in price at the local market but when there is a reduction, the government will not ensure that they reduce the prices accordingly.

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Fuel prices have been reduced from Gh¢5.20 per liter to Gh¢4.83 per liter. A gallon of petrol is now Gh¢18.30 but the painful side of the story is that Ghanaians are still paying more with regards to lorry fare.

We live in a country where no one is fighting for the betterment of the poor and the vulnerable and the consumer will always suffer any price action no matter what.

Do you think the current government has done enough to tackle inflation?

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Thanks for reading.

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