General News of Wednesday, 5 January 2011

Source: GNA

NUGS calls for reduction of petroleum prices

Accra, Jan. 5, GNA - Mr Anthony Abotsi Afriyie, President of the National Union of Ghana Students (NUGS), on Wednesday called on the Nationa= l Petroleum Authority (NPA) and the Government to reconsider reducing prices of petroleum products.

He said in an era when tertiary education had become largely non-residential with many students having to commute on a daily basis to an= d from school, the increase in fuel prices would affect many students. In an interview with the Ghana News Agency, Mr Afriyie said NUGS was worried because of the link between the increase in prices of petroleum products, production and marketing costs of industry and the general cost o= f living.

He noted that Monday's increase in the prices of petroleum products would contribute to general hiking in prices of goods and services. The NUGS president appealed to Government to reduce the prices of petroleum products drastically to ease its effects on students and the general public. The NPA on January 3, 2011, announced that the prices of gas oil and petrol had gone up by 30 per cent in the ex-pump price while Liquefied Petroleum Gas rose by 25 per cent. The prices of kerosene and premix fuel for fishermen remain unchanged. The NPA said the new prices were the result of high crude oil prices o= n the world market, increases in the Tema Oil Refinery (TOR) debt recovery levy and distribution margins for oil companies.