The CEO of the National Petroleum Authority (NPA), Godwin Edudzi Tamakloe, has admitted there are no firm guarantees yet on fuel price stability, raising concerns about possible future increases for consumers.
Speaking on PM Express on Joy News, he indicated that authorities are still assessing how the market will respond before taking any major decisions.
“Some of these decisions require broader conversation, possibly ministerial or Presidential level. What we have is a window to study how the market will generally react, which will inform some of the decisions.
“If this becomes more extended, that one, I know that there will be a bigger conversation, just that I do not have the authority to make some disclosures now.”
His comments come amid growing anxiety over global crude oil price movements and their potential impact on local fuel prices.
Pressed on the threshold that could trigger government intervention, Mr Tamakloe pointed to a key benchmark in global oil markets.
“Anything beyond maybe $120 per barrel for the world price of crude, then the conversations can be firmed up.”
The remarks suggest that any sustained surge in international oil prices could eventually be passed on to consumers, depending on how the situation evolves.
While he stopped short of offering assurances, Mr Tamakloe hinted at possible government action if conditions worsen, pointing to the President’s interest in cushioning the impact on Ghanaians.
“In the past few days, the President had been generally concerned about prices. He has been greatly concerned, as I can tell you.
“And so, if there is anything in the rulebooks on how to mitigate the impact on the average Ghanaian, the President will not hesitate at all. I mean, his record is there.”
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Source: www.myjoyonline.com