Reduce fuel prices now

The NDC Minority in Parliament has called for the immediate reduction in fuel prices because the factor that existed in February that led to the increases are irrelevant.

According to a statement issued by the Minority spokesman on energy and Mines, Hon. Abraham Kofi Asante on behalf of the NDC, he said when petroleum prices were increased on February 23, this year a barrel of crude oil was selling for $28 and the exchange rate was then between ?7,000 to ?8,000.

But now a barrel of crude oil is going for $23.42 and exchanging for between ?6,900 to ?7,000.

The statement said that with the new policy of fixing petroleum products in the ex-refinery price to reflect changes in prices of these products as well as changes in the exchange rate between the cedi and dollar, Ghanaians should be allowed to reap the full benefit of the new oil price.