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Business News of Monday, 24 January 2022

Source: thebftonline.com

Erratic fuel prices making life difficult – Citizens lament

The hike in fuel prices is affecting many aspects of live The hike in fuel prices is affecting many aspects of live

The unpredictable nature of fuel prices in the country is causing much anxiety among citizens, with some who spoke with the B&FT lamenting its impact on their pockets.

A trader who wants to be known as Eno Mary shared her experience with the B&FT, saying, "The constant increase in fuel prices is affecting my life seriously. Not only do I have to pay more for my commute to and from work, but I also have to cough up more money to pay my suppliers. My weekly budget for the transportation used to be GH¢50, but now it has gone up to GH¢80, that is GH¢30 more than I used to pay".

"I just heard they increased the fuel prices again, and I am hoping the drivers do not increase the fare, as I cannot afford another increase in my transport budget, because, if that happens, then I would be forced to raise my wares.

I have children to cater for and a number of bills to pay for, and if we continue like this as a country, I believe many of us will be out of business, and that is not a good thing. How will we be able to feed our families if we do not have jobs, and how is the nation going to survive without small businesses like ours? The government has to take all these into consideration before increasing fuel prices further," she said.

Stating the same concern of the fuel price hikes having a great impact on, not just commuting, but also a change in lifestyle, a retired educationist, Mr Quarshie, said, "With the alarming increase in fuel prices, I have to think twice before moving anywhere, because, if I exhaust the little money I make from my pensions on fuel, I will be found wanting. I may be old, but I have a lot of responsibilities.

I am often commuting to my hometown most weekends for the family business, and that alone cost me GH¢200 to fill my fuel tank just to move from Accra to my hometown. Now, with the increase, it will cost me close to GH¢350 just to attend to family matters in my hometown for the weekend.

If I spend that much on fuel, my medications and other bills are going to suffer. That means that I have to forfeit my commute to my hometown most weekends, and that is not possible. So now my pension has to be increased for me to maintain the lifestyle I have always had, or I give up my car, which is not ideal in the current health crisis. I believe if things continue this way, we will all be in hot soup with our finances," he said.

Also speaking on the matter, a banker in his early 30s, who wants to be known simply as Kojo, said the amount he spends on fuel had seen a big jump, which makes using a personal vehicle more expensive.

"Prior to the price increase, I used to fill my tank at GH¢230, but now it is at GH¢400 to fill my 1.8 engine capacity car, which I think is a bit high as the distance I commute to and from work remains the same. It further makes running errands difficult because you are conscious of the fact that your fuel may be consumed at a faster rate," he said.

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