POLITICS OF FUEL PRICES IN GHANA
TOPIC INTRO Henry Kokofu is the CEO for EPA. Speaking on Peace FM’s ”Kokrokoo” Friday morning, Henry Kokofu noted that a lot of people are not using fuel productively and this negatively impacts the petroleum sector. He, therefore, advised vehicle owners and drivers in the country to conserve fuel by being economical in its usage. Citing some of the things he would have Ghanaians to either stop or check, he stated that it’s not all the time that people should drive to every place, and that urged car owners or drivers to sometimes park their cars and just walk. HISTORY OF PETROLEUM PRICING IN GHANA FROM 2000 1. PETROLEUM PRICING UNDER KUFFUOR During the Presidency of J.A. Kuffuor, prices of fuel were determined by government . This was done through a cap system and payment of subsidies to BIDECs and OMCs to cushion Ghanains when fuel prices increase at the world market. It means that government pays part of the cost of imported fuel and hence determines fuel prices for OMCs (fuel stati...