In Ghana: Petrol price increased by 9%.

Moses Asaga has justified the 9 percent fuel price increment saying that Ghanaians can afford it.

The Chief Executive Officer of the National Petroleum Authority (NPA), Moses Asaga has defended the 9% petroleum price increment saying that Ghanaians can afford the 28 pesewas.

Petrol will now be sold at GHc3.33 per litre while Diesel will be sold at GHc3.24 per litre effective Sunday 17 May 2015. This reflects a 9% increase in the prices of most fuel products.

A kilogram of LPG is expected to be sold at GHc2.88, MGO Local will go up GHc2.96. Unified petroleum is expected to go up by 4% while Kerosene will be up by 9%. However, premix fuel and RFO remain at the previous prices as they have not been increased.

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.

According to a statement signed by the Chief Executive of NPA, Moses Asaga between February 2015 till date, there has been a 37% change in the price of Petrol, 26% in diesel and 43% in LPG hence the increases in the country.

Moses Asaga in an interview with Citi Fm said, “As we talk now, people can now afford at least the 28 pesewas addition…but if we didn’t do that, then all your generators will not run because there will be no fuel and even if there was fuel, there will be hoarding and you will even pay double the price.”

“If we had not increased the liter by 28 pesewas and has allowed shortages to come in, the dumsor problem would have been worse for those with generators because you cannot get diesel of petrol to put in your generator.”

He justified the increment saying the NPA increased the price due to an increasing rate of unpaid under recoveries amounting to about GH¢146 million, which has caused serious liquidity challenges for the Bulk Oil Distribution Companies (BDCs).

He added that the NPA took cognizance of the “imminent shortages that we were anticipating, we decided that it was better to increase it by 28 pesewas, allow availability of product on the market so that everybody will at least lead a meaningful, comfortable life.”

Meanwhile, the Ghana Road Transport Union (GPRTU) has warned transport operators in the country not to increase fares in spite of an increment in petroleum products.

A statement jointly signed by the General Secretaries of GPRTU and the Ghana Road Transport Coordinating Council (GRTCC),Stephen K. Okudzeto and Alhaji Aliyu Baba respectively, urged transport operators “not to increase transport fares pending the midyear review of transport fares which is scheduled for June, 2015”

what next Ghana?