Consumers spared fuel price increase
From: Ghana | Joy Business
January 17, 2013, 10:54 GMT
Listen to John Peter Amewu
Consumers have been spared an imminent increase in fuel prices after government absorbed the associated cost.
A source at the National Petroleum Authority told Joy Business fuel prices should have gone up today between 10 and 30 percent as per their bi-monthly review policy.
The current local prices are still based on the 2011 world market price of 105 dollars, and not to the current 110 dollars.
This is expected to cost government about 4 million cedis, and about 2 billion cedis this year if it continues with the subsidy policy.
But Energy Economist, John Peter Amewu tells Joy Business the time has come for government to review this policy.
Government currently owes some oil importers about 300 million Ghana cedis out of the 1 billion cedis it should have paid out to subsidize fuel prices last year.
The state currently subsidizes about 30 percent for every litre consumed.
): Have Your Say >>
Organisations must empower women in Business - CMO, Vodafone Ghana
Airtel partners with Ecobank to offer M-Banking
CDH builds GHC350,000 home for Village of Hope
Exporters urged to focus on quality issues
Samsung rolls out system to replace damaged Note 3 handsets of customers
Rlg outdoors two android phones across West Africa
Atuabo gas project 72% complete- Dr. Sipa Yankey
Rlg graduates 5000 in Osun State, Nigeria
afs Ghana rebrands as afb Ghana as it launches new REWARDS GOLD card
Job-cut fears hit miners
Tools & Features
Audio on Demand
Joyonline on Twitter
Joyonline on Facebook
Joyonline on Youtube
Advertise with Us
Ghana Money Blog
© Copyright 2012 Myjoyonline.com All Rights Reserved.