On hindsight,I think that NPA should not have reduce the prices of petroleum prices. Even if there was any such,it should have been targeted at kerosene,LPG and premix fuel only. The prices of petrol and diesel should have just remain where they are. The recent reduction will not really affect the ordinary people. We still have a liberalized market,if the transport owner says that he wont reduce fares,u cant compel him to do otherwise. My understanding is that GUTA members have indicated that they wont reduce the prices of goods. We could have just allowed the prices to remain same,whatever would come out of the windfall,use that to pay settle the BDCs. I will on any day prefer the availability of the product to any form of long queues. The other savings can be used to cushion any future price increases.Clearly,oil prices wont remain this low forever. The Automatic Price Adjustment Formula from its inception,has never been used or applied fully.It will never be used fully in the future too. The recent price reduction would in effect be another way of subsidizing the life styles of the very rich and middle class in Ghana. #OCCUPYOILPRICEREDUCTION
Posted on: Sun, 04 Jan 2015 15:45:17 +0000
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