The Member of Parliament for Pru East, Dr. Kwabena Donkor has blamed Ghana’s poor economic management for the instability in the pump prices of fuel.
According to him, Ghana’s exchange rate vulnerability does not make the country enjoy reduction in fuel prices when international benchmark prices dips.
Dr. Donkor remarked that inability of government to keep the Ghana cedis from depreciating invariably affect our ability to contain and control fuel prices within reasonable margins.
‘‘If your economy is run poorly, the exchange rate will expose your poor economic management, and this will reflect in higher prices of fuel,’’ he stated.
He made this observation in a wide-raging interview on TV3’s First Take Programme, where he spoke at length on Ghana’s downstream petroleum sector.
In recent weeks, the prices of fuel have become very topical. Since the beginning of the year, fuel prices have upwardly been adjusted by 45%.
It took commercial driver unions to declare an industrial action before the prices saw some marginal reduction.
Currently, the Ghana Private Road Transport Union, GPRTU, is warning its members not to increase transport fares, as they are still in negotiations with authorities on same,
