Do you agree with the justification of the fuel price increase?
The cedis’ depreciation, rising prices of finished products and crude oil caused the National Petroleum Authority to increase fuel prices.
The value of every litre of Petrol, Kerosene, Diesel and a kilogram of LPG on Sunday May 17 went up by 9 percent.
This means that a gallon of Petrol will this morning be selling at 16 Ghana cedis 65 pesewas, while Diesel will also go for 16 cedis 20 pesewas.
The NPA says because they are trying to recover the full price of every product sold, they were compelled to pass on the cost to consumers.
"The increases as we see are full time recovery because we don’t want to incur any loses or any under-recoveries again
The cedi has seen some depreciation in the period under review. And these three factors all uniting, is what has caused the price to increase to 9 percent.”
The Chief Executive of National Petroleum Authority, Mr. Moses Asaga also explained the increment has become necessary to forestall shortages of the products at the fuel stations.
Do you think it was fair for the justification to increase the petroleum products?