Rise In Petroleum Prices Is Global -Dr Mustapha Hamid Asserts
Chief Executive Officer (CEO) of the National Petroleum Authority ( NPA), Dr Mustapha Hamid has noted that the rise in prices of petroleum products is not peculiar to Ghana, but a worldwide phenomenon.
Dr Mustapha Hamid made the revelation when he paid a courtesy call on the Wa- Naa Fuseini Pelpuo iv as part of his working visit to the Upper West Region on Wednesday, 9th February 2022.
The former Information Minister in an address to the overload of the Waala Traditional Area said ” there is an issue and talk about the rising cost of petroleum products across the world, it is a worldwide phenomenon. Everywhere in the world, there is a rise in the prices of petroleum products”.
Dr Hamid while explaining why there is a rise in prices of petroleum products at the world market said ” It is because the people who produce petroleum are not pumping the required quantities into the world market and so it makes the price continues to go up”.
“Apart from that, Wa naa there is also Geopolitics of the world, people are feuding and fighting with each other and they also say that because of Covid in 2020/2021 they are trying to to get back their profits, so things are difficult” – Dr Mustapha Hamid
The NPA CEO however, indicated that the President, H.E Nana Akufo Addo is mindful of the rise in prices of petroleum products and they are monitoring the world market situation to ensure that the people of Ghana do not suffer unjustifiably from the world market forces.
Ghanaians have been complaining about the high cost of petroleum products with a litre being projected to hit Gh¢ 8.00 by March 2022.
Adil Fuseini
