Former Member of Parliament for Asante Akim North, Andy Kwame Appiah-Kubi, has said that the impact of global fac tors on local economies cannot be discounted.
He says the impact is felt by everybody.
To that end, he has called for nonpartisan discussion on the fuel price issues in Ghana.
“The global influence on local economies is there for all of us to see,” he said on the Key Points on TV3 Saturday, April 18.
He added, “it’s good that the opposition understands the current situation.”
For his part, the Head of Communications at the Ministry of Energy and Green Transition, Richmond Rockson, said that but for the recent intervention by the government, fuel prices would have gone up.
He made the point that President John Dramani Mahama and the Minister of Energy and Green Transition, Dr John Jinapor, take fuel pricing as a priority.
“The net effect is about GHS 200 million cedis per pricing window. Within the window, it’s GHS400 to GHS500 million,” he also said on the Key Points on TV3 Saturday, April 18.
“But for the intervention the fuel prices would have gone up,” he added.
Richmond Rockson said reduction in fuel prices is a sign of the government’s commitment to cushioning Ghanaians against the pressure posed by the Middle East crisis.
He added that it demonstrates that the Mahama administration is putting Ghanaians first in its decision.
The government, on Wednesday, April 15 announced that has absorbed 36 pesewas on the price of petrol and GHC2.00 on diesel effective April 16.
Accordingly, petrol will sell at GHC0.36 less while price of diesel will be GHC2.00 less.
“Government Announces Temporary Measures to Mitigate Petroleum Price Increases Amid Global Market Volatility Effective April 16, 2026, which is the next pricing window, the Government will absorb GH¢2.00 per litre on diesel and GH¢0.36 per litre on petrol,” a statement signed by Government Spokesperson, Felix Kwakye Ofosu stated.
The statement dated April 15 indicated that, “This intervention is intended to cushion customers and ease the cost burden on households, transport operators, and businesses.”
Richmond Rockson said “it shows the commitment of government and the fact that the government is putting the people first.”
He further noted that on average, the combined effect of the reduced margins amounts to about GH¢2.30 per litre, translating into an average estimated revenue loss of at least GH¢200 million for government in each pricing window.
“What it means is that the Government has taken a hit because this will be revenue that will be due government.
“If you look at the analysis, these figures are on each litre and so averagely on each litre, if you do the combine effect of the margins, you are looking at specifically about GHC2.3. if you look at what the net loss would be, government is taking a hit of minimum about GHC200 million every window to be able to do this implementation,” he stated.
He added that the actual losses could be even higher depending on detailed calculations.
“And these are the average net losses, if we are going into the specifics, perhaps that will be more than that,” he said.
