{"id":10654,"date":"2018-08-21T10:06:05","date_gmt":"2018-08-21T10:06:05","guid":{"rendered":"https:\/\/www.kumasionlinegh.com\/?p=10654"},"modified":"2018-08-21T10:11:46","modified_gmt":"2018-08-21T10:11:46","slug":"change-bosts-mandate-to-address-fuel-price-hikes-ies","status":"publish","type":"post","link":"https:\/\/www.kumasionlinetv.com\/?p=10654","title":{"rendered":"Change BOST\u2019s mandate to address fuel price hikes \u2013 IES"},"content":{"rendered":"

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The\u00a0Institute of Energy Securities<\/strong><\/a>\u00a0(IES) is calling for a change in the mandate of the\u00a0Bulk Oil Storage And Transportation (BOST) to help address the constant increase in fuel prices.<\/p>\n

According to the Executive Secretary of IES, Paa Kwesi Anamoah Sekyi, an analysis of the trend in fuel prices on the international market can better inform the government on what measures to take to cushion citizens ahead of an expected price increment.<\/p>\n

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Speaking on Eyewitness News on Monday, he said although there isn\u2019t much the government about the regular price increments, it can take some decisions locally to arrest the situation.<\/p>\n

Among other things, he cited the cedi\u2019s poor performance against the US dollar as one of the reasons for price hikes.<\/p>\n

There was a 2% increment in the price of fuel at the pumps, indicating about a 10% rise in fuel price since the beginning of the year.<\/p>\n

The situation has seen some vehicle owners lament over the challenge the case will pose to them, while there is uncertainty over whether or not prices of transport fares for passengers in commercial vehicles will be increased.<\/p>\n

The Chamber of Petroleum Consumers (COPEC), in a statement on Sunday,\u00a0said the fuel price increases could not continue as it threatens only to worsen the plight and hardships of the ordinary Ghanaian and impact negatively on economic activities within the country.<\/p>\n