The Executive Director of the Institute for Energy Security, Nana Amoosi VII, has described government’s attempts to find more affordable petroleum products amid the economic crisis as wasteful and impossible.
Nana Amoosi VII said the players in the petroleum sector would have utilised links to cheaper fuel by now if possible.
Nana Amoosi VII also criticised the overall attempt by the government to look for cheaper fuel, as outlined by the President during a speech on Ghana’s economic crisis.
The IES boss called it a “recipe for disinvestment” because of the wrong signals it would send to the international market.
Nana Amoasi VII suggests, if the government is serious in bringing relief to Ghanaians then the authorities should look beyond Tema Oil Refinery and BOST.
Currently, some Oil Marketing Companies are selling products for as high as GHS23.
The rising costs have been due to the high exchange rate affecting the prices of fuel on the international market.
Story by Kelvin Danso
