In order to keep Ghanaians alive in the face of the current energy crisis, the Institute for Energy Security (IES) has asked the government to use the proceeds from the nation’s windfall crude oil sales.
According to the IES, this will be a significant step in reducing the current price rises for petroleum and diesel products.
If the government is serious about providing comfort for Ghanaians in these trying times, Nana Amoasi VII, the Institute’s Executive Director, said in a media interview, it should not only be focused on “outsourcing reliable and regular oil supply,” as the President said during a speech on Ghana’s economic crisis.
“There are various ways and processes beyond Tema Oil Refinery (TOR) and Bulk Oil Storage and Transportation Company Limited (BOST) workings to deal with the crisis if the government is sincere about providing any help to Ghanaians at this time.
“Some nations have discovered the need to establish subsidies to protect consumers. Some have reduced taxes and levies, while others have increased output or refined their own domestic crude. The majority of them are actively battling to prevent the import of foreign cash, which is used to pay for fuel and crude oil.
According to Nana Amoasi VII, this will help down market fuel prices and provide relief to petroleum customers.
At the numerous gas stations across the nation, diesel is now sold for GHS 23.19 while gasoline is sold for GHS 17.48.
A litre of gasoline will soon cost GHS 20, according to the Chamber of Bulk Oil Distributors.