Josiah
The Ghana Chamber of Bulk Oil Distributors (CBOD) has reassured customers that fuel prices are unlikely to surge by the end of April 2024.
The Chamber emphasized that the potential scenario may not significantly impact the prices of gasoline, diesel, and liquefied petroleum gas (LPG). It stated that its assessment of factors influencing pump prices, particularly the currency exchange rate, has remained stable in the past week.
Speaking to reporters in Accra, Dr. Patrick Kwaku Ofori, CEO of CBOD, dismissed rumors suggesting that the prices of petrol and diesel would reach GHS18 per liter by the following week.
“Despite concerns that the dollar might reach GHS14, it has actually been relatively stable, which is an improvement compared to previous weeks,” Dr. Ofori stated. “Currently, the price stands at GHS14.99 per litre. It may reach GHS18 per litre if the dollar hits maybe GHS15, but I don’t foresee the dollar even reaching GHS14 by next week.”
Dr. Ofori urged the public and “energy experts” to refrain from making speculative forecasts that could fuel consumer anxiety and disrupt industry investments.
He expressed the Chamber’s concern about the impact of such speculation on consumer behavior and gas price fluctuations.
In an effort to combat misinformation regarding fuel pricing, CBOD announced plans to organize training sessions for journalists covering topics such as market dynamics and fuel pricing components.
“We need to exercise caution with our statements. Foreign exchange commodities are sensitive to key factors within the sector and the economy. When people make speculative projections, we must delve deeper into the matter,” Dr. Ofori emphasized.
Source: Omanghana.com
