H.E. Nana Addo Dankwa Akufo-Addo, the country’s president, has promised that measures would be taken to lower the country’s prohibitively high gasoline prices.
Gasoline and diesel prices are rapidly approaching GHS20 a liter at the gas stations.
Since the cedi has been steadily losing value, the rising cost of fuel has added a significant amount to the already high cost of living in Ghana.
In his state of the nation address, President Akufo-Addo Addo mentioned his administration’s efforts to bring the price of petroleum in Ghana down and increase its reliability.
“I know that the increasing cost of living is the number one concern for all of us. It is driven by fast escalating fuel prices at the pumps, which is caused by high crude oil prices on the world market and our depreciated currency. I know that this is putting intolerable pressure on families and businesses. I know that people are being driven to make choices they should not have to make, and I know that it has led to the devaluation of capital of traders and painfully accumulated savings.
READ ALSO: Fuel prices to increase by 10% from October 16 – COPEC
“Furthermore, Government is working to secure reliable and regular sources of affordable petroleum products for the Ghanaian market. It is expected that this arrangement, when successful, coupled with a stable currency will halt the escalation of fuel prices and bring relief to us all,” President Nana Addo Dankwa Akufo-Addo said in his address on Sunday, October 30.
While delivering his remarks, President Akufo-Addo acknowledged the economic problems facing Ghana.
He did, however, promise that his administration would make the tough choices necessary to spur economic growth and ease the suffering of its people.
The post Gov’t working to secure reliable, affordable petroleum products for Ghanaian market – Akufo Addo appeared first on GhBase•com™.