The Executive Secretary of the Chamber of Petroleum Consumers (COPEC), Duncan Amoah has warned fuel prices will keep rising locally unless government put measures in place to prevent the hikes.
Describing the recent hikes as disturbing, Mr. Amoah called on government to immediately act to prevent further increments.
Although he was unable to predict the percentage by which the commodity will go up, he warned Ghanaians to prepare for another increment soon.
For him, the country could have avoided all the recent fuel prices increment if it had structured and managed the Tema Oil Refinery (TOR) well to produce “our own fuel when there is shortage on the world Market“.
His comment came at the time prices of fuel at some pumps were increased by eighty-one (81) pesewas over the weekend. Fuel prices at the pump have gone up marginally in the second price window of June. This has become necessary as a result of rising prices of petroleum commodities on the world market.
Fuel prices in the country have consistently seen a steady increase since the beginning of the year, sparking fears that consumers may end the year paying an all-time high rate per litre.
However Mr. Amoah said apart from government ensuring that the country’s refinery is up and running, it is also important to consider revamping the Bulk Oil Storage (BOST) facility, which was established to store fuel and supply at cheaper prices, most especially at the time of scarcity.
Mr Amoah expressed fears that “with the way fuel prices keep going up, Ghanaian will soon hit the street and demonstrate. Things are becoming difficult in the country and to see fuel prices dangling like the way it is going, my brother people are getting angry they may be forced to hit the streets in coming days if a lasting solution is not found to address the matter”
