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Business News of Wednesday, 12 February 2003

Source: Heritage

Sharp Drop In Fuel Use

Almost a month after Energy Minister, Albert Kan Dapaah dropped his 90.47 per cent price hike, a survey by the THE HERITAGE indicate that sales in some petrol stations have fallen by as much as 60 per cent. So drastic has been the fall in demand that there are worries in some stations about where to find money to pay attendants.

The manager of a Total Filling Station said sales target have not been met for the past weeks because many people are not buying petrol as they used to.

''Before the increment, we sold 340,000 of petrol, but since the increment we have been able to sell only 115,000 litres of petrol which is 40 per cent compared to the previous sales'', he disclosed.

The manager of Shell Filling Station had a slightly better story. He said since the increment, the highest purchase of petrol has been just five gallons.

''The demand for petrol has fallen from 400 gallons a day to 200 gallons that is a 50 per cent fall in demand and the same thing has happened to diesel'', he said adding that lubricants are not selling either.

The Manager of Mobil Filling station also had the same story to tell. The marketing manager of GOIL said increment in prices of fuel over the years resulted in business slow down for at least two months.

Motorists are being cautious because their fuel bills have doubled. Most private car owners now travel outside Accra by public transport, leaving their cars behind.