Vice President, Dr. Mahamudu Bawumia has informed Ghanaians that there would be a further decrease in fuel prices in the next coming days.[ads2]
According to him, this is as a result of the implementation of the government’s Gold for Oil Policy introduced to help reduce the pressure on the cedi and bring in cheaper fuel has so far seen about 100,000 metric tons of fuel being brought into the country under the policy.
“I am happy to note that the policy is the first of its kind in Ghana since independence to address the balance of payment crisis that we face”, Dr. Bawumia said this while commissioning the new head office of the Bulk Oil Storage and Transportation Company Limited, BOST, in Accra.[ads3]
“In my humble opinion, it is the most important macro-economic policy intervention to deal with the exchange rate depreciation, fuel price, and food price issues that we have had. We have not only seen a decline in prices of fuel from GH¢23.00 per litre to around GH¢12, but we have also seen stability in the exchange rate”, he added.
Currently, the national average price for petrol and diesel stands at GH¢13.53 and GH¢13.69 respectively.[ads4]