The National Petroleum Authority (NPA) has revealed that the prices of petroleum products may go down by 15% in their next price review window after a drop in crude oil prices on the international market on Monday.
After the announcement, a lot of Ghanaians have hailed the government for finally heeding to their cry and pressuring the NPA to revise fuel prices.
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But the National Chairman of Transport, Petroleum and Chemical Workers Union, Bernard Owusu,in an interview on Happy 98.9FM’s ‘Epa Hoa Daben Show’, has corrected the perception of Ghanaians by declaring, “Government cannot take glory for the reduction of fuel prices. We should thank CoronaVirus for the reduction.”
According to him, the ruling government absolutely has nothing to do with the imminent reduction in fuel prices which may not only lead to a reduction in transport fares but also goods and services.
Reports from the CNN to some extent supports his assertion.
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The report shows that, the CoronaVirus has undermined energy demand worldwide, but especially in China, which is now number one importer of crude oil, guzzling 10 million barrels a day.
The global pandemic which began in Wuhan, China has seen flights being cancelled and factories becoming idle around the world.
International Energy Agencies have said that they expect demand for crude to go down this year for the first time since the recession in 2009 that followed the global financial crisis.
By: Joel Sanco