RUSSIA-UKRAINE WAR IS THE MAIN CAUSE OF FUEL PRICES HIKES – NPA

According to Abass Ibrahim, director of pricing at the National Petroleum Authority, the continuing war between Russia and Ukraine is the main reason of rising gasoline costs (NPA).

The steady rise in the price of petroleum products in Ghana has affected Ghanaians hard in the previous three months.

But things got worse recently when Russia declared war on Ukraine.

In an interview with Asaase Radio on March 16, 2022, Abass Ibrahim said the war between the two European countries is the major reason of the country’s skyrocketing gasoline prices.

“We haven’t seen this much inflation in 40 years, and none of us expected it. Chief factor is the Russia-Ukraine conflict, said NPA’s Head of Pricing.

Experts predict that petrol costs would reach GHS10 per litre by the end of March.

The Institute of Energy Security (IES) expects LPG to rise 3%, while petrol and diesel will rise 5% and 9%, respectively.

The Concerned Drivers Association of Ghana (C-DAG) has threatened to take serious steps if the government does not cut gasoline costs within a week.

The group has given the government one week to reduce levies on petroleum goods to lower gasoline costs.