The Ghana Chamber of Bulk Oil Distributors (COBD) has forecasted an up to \u00a21 per litre reduction in the price of petrol and diesel by April 1, 2022.<\/p>\n\n\n\n
This follows several engagements the COBD had with the Bank of Ghana (BoG) and stakeholders to fashion out interventions aimed at reducing the prices at the various pumps.<\/p>\n\n\n\n
The Chief Executive of the Chamber, Senyo Hosi, says additional measures have been agreed upon and are expected to reduce prices by Friday.<\/p>\n\n\n\n
\u201cThe key thing that will really deal with the challenges we have will be the exchange rate interventions that government is looking at together with the Central Bank. Come April 1; we should be able to see a better position on petroleum prices.<\/p>\n\n\n\n
\u201cWe will be looking at something close to a cedi under litre or half a cedi under a litre,\u201d he said.<\/p>\n\n\n\n
Last week, the government announced a \u00a20.15 reduction in petroleum products, which commercial transport operators rejected.<\/p>\n\n\n\n
The Ghana Private Road Transport Union (GPRTU), the Concerned Drivers Association of Ghana and other transport unions say they are disappointed.<\/p>\n\n\n\n
According to them, they would have been better off if government had not absorbed anything.<\/p>\n\n\n\n
After the Finance Minister announced the reduction, the Spokesperson for GPRTU, Imoro Abass, indicated that the drivers would be discussing a further increase in transport fares.<\/p>\n\n\n\n
\u201cIf this is all they can do for us, I will say we are ungrateful. The \u00a20.15 is woefully inadequate, so we\u2019d have to meet and decide on which way we are going to move,\u201d he told Joynews.<\/p>\n\n\n\n
Fuel prices have increased within the last two-week period across major pumps in the country.<\/p>\n\n\n\n
Many Oil Marketing Companies have been selling at an average of \u00a29.70, \u00a29.99 and \u00a211.<\/p>\n\n\n\n