Business News of Monday, 15 March 2021

Source: rainbowradioonline.com

5.7% increment in fuel prices pure wickedness - Union

Drivers are currently experiencing hardship due to the regular price increment in fuel productsdu Drivers are currently experiencing hardship due to the regular price increment in fuel productsdu

The Public Relations Officer of the True Drivers Union, Yaw Barimah has described the government as insensitive to the plight of drivers.

Speaking on Nyankonton Mu Nsem on Rainbow Radio 87.5Fm, he said the day Caretaker Finance Minister Osei Kyei-Mensah-Bonsu announced the 5.7% increment in fuel prices, the prices of fuel products had been increased.

When he presented the budget statement last week, Caretaker Finance Minister Osei Kyei-Mensah-Bonsu told Parliament the price of Petroleum products will go up by 5.7% in the coming days.

“I should note that on the basis of existing world crude oil prices, the implementation of the two proposed levies for sanitation and pollution as well as to pay for excess capacity charges would result in a 5.7% increase in petroleum prices at the pump,” he said.

Reacting, Yaw Barimah claimed that fuel prices have gone up on five occasions representing 13.3%.

He said the Union would have no option other than to increase transport fares, adding, drivers are currently experiencing extreme hardship due to the regular price increment in fuel products.

Yaw Barimah asked Ghanaians to brace themselves to pay more for transport because the increment has gone beyond the threshold for them to increase transport fares.