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General News of Friday, 7 January 2011

Source: citifmonline

Prez. Mills: Blame NPP for fuel price hikes

President John Evans Atta Mills has asked the Opposition NPP to apologize to Ghanaians for the current fuel price hikes which is the result of the huge indebtedness of the Tema Oil Refinery.

This was President Mills' answer to a question about why he has reneged on his promise to reduce fuel prices drastically.

The President explained that apart from the rising crude oil prices, the major reason for the recent 30 percent increase in the prices of petroleum products is as a result of the 1.488 billion cedis debt left behind by the NPP.

President Mills further explained that his exact promise on petroleum prices was misconstrued by the NPP to score cheap political points.

“Given the world crude price at the time (i.e is in 2008) I could reduce the prices. At the beginning of 2009, we met 1.488 billion GHC and that in 14 months the prices went up phenomenally”.

President Mills said it is not an easy decision to increase prices but he had to take such a decision.

He said he had been inundated with calls from people throughout the country to increase the prices to help develop the nation.

“It is even a miracle that at this stage we can provide fuel to the country” he said.

Reacting to the NPP’s call on him to apologize to Ghanaians for reneging on his promise of reducing fuel prices drastically, President Mills said “the NPP needs to apologise to the people of Ghana for leaving the 1.488 billion debt toll. The country must make sure there is fiscal prudence for economic growth. We cannot continue to subsidize the fuel prices because we need money to develop the country” he said.

He asked the NPP what it was able to do with the TOR Debt Recovery Levy.

More to come....