The Executive Director of the African Centre Energy Policy (ACEP), Benjamin Boakye government should have a broader conversation on the offer for cheaper fuel.
He said, he is not aware of any company or government that is willing to sell fuel below the market prices unless there is something to gain for it.
As a result, he has urged government to come out and explain what the country is offering as part of negotiations for such cheap fuel.
Benjamin Boakye who was reacting to this on the News 360 on TV3 Thursday November 2 said,
“what I am not sure is the proposal on the table. Government itself says they are going to look for a cheaper product for consumer.
“I find that like looking for milk in the global oil market, I do not see any company or any government that wants to trade oil below the market prices unless there is something to gain for it.
“Maybe we have to push government for a broader conversation on what they are given for the supposed discount for the from the companies that they are engaging.”he added.
President Nana Addo Dankwa Akufo-Addo announced in his address on Sunday October 30 that the government was working to secure reliable and regular sources of affordable petroleum products for the Ghanaian market to stabilise fuel prices.
Information Minister Kojo Oppong Nkrumah had said that the government has tasked the Energy Ministry and the National Petroleum Authority (NPA) to find reliable and cheaper sources of fuel.
He said “The deregulated market we have here where BDCs import from big companies on high fees from the refinery wherever and bring them in is contributing to the quickened escalation of fuel prices.
“To arrest it, the Energy Ministry working through NPA and other agencies etc is been tasked to finding reliable, cheaper sources of fuel for the Republic so that the OMCs locally can tap into and hopefully halt that escalation in fuel prices.”