{"id":352,"date":"2022-11-13T11:25:24","date_gmt":"2022-11-13T11:25:24","guid":{"rendered":"https:\/\/nhyirafie.com\/?p=352"},"modified":"2022-11-13T11:25:24","modified_gmt":"2022-11-13T11:25:24","slug":"fuel-hikes-energy-ministry-to-engage-stakeholders-over-price-methodology","status":"publish","type":"post","link":"https:\/\/nhyirafie.com\/fuel-hikes-energy-ministry-to-engage-stakeholders-over-price-methodology\/","title":{"rendered":"Fuel hikes: Energy Ministry to engage stakeholders over price methodology"},"content":{"rendered":"

\"Fuel<\/p>\n

The Ministry of Energy says it will soon meet the National Petroleum Association (NPA), the Ministry of Finance, and the Central Bank to find solutions to the rising cost of fuel in the country.<\/p>\n

The Ministry\u2019s assurance comes on the back of unprecedented hikes in fuel prices in recent times.<\/p>\n

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Petrol is currently selling at Ghc13 and diesel has closed the Ghc15 mark as the current increment is likely to affect transport fares shortly.<\/p>\n

However, speaking on the\u00a0Morning Starr<\/strong>\u00a0with Francis Abban Monday, the Deputy Minister for Energy, Andrew Agyapa Mercer indicated that the pricing methodology does not favor the consumer.<\/p>\n

He added that the Ministry of Energy is therefore taking pragmatic steps towards ensuring that the pricing methodology does not affect the consumer.<\/p>\n

\u201cSo the plan is to engage the NPA together with the Bank of Ghana and officials from the Ministry of Finance and Energy to see how these pricing methods will create value for consumers,\u201d the deputy minister stated.<\/p>\n

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However, the Institute of Energy Security (IES) has predicted a further increase in fuel prices because of the continuous depreciation of the Ghana cedi.<\/p>\n

IES also hinged a hike in fuel prices on the decision by Oil Producing Countries to scale down on the production of crude oil.<\/p>\n

\u201cI will not say there is an end in sight. I am not convinced because if you look at the international market, Italy and others are cutting down on production of supply. The key one being the crude oil that will impact on price negatively,\u201d the Executive Director of IES, Nana Amuasi VII told\u00a0Starr News<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Ministry of Energy says it will soon meet the National Petroleum Association (NPA), the Ministry of Finance, and the Central Bank to find solutions to the rising cost of fuel in the country. The Ministry\u2019s assurance comes on the back of unprecedented hikes in fuel prices in recent times. Petrol is currently selling at […]<\/p>\n","protected":false},"author":2,"featured_media":363,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[272],"class_list":["post-352","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-fuel-hikes-energy-ministry-to-engage-stakeholders-over-price-methodology"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/nhyirafie.com\/wp-json\/wp\/v2\/posts\/352","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nhyirafie.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nhyirafie.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nhyirafie.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/nhyirafie.com\/wp-json\/wp\/v2\/comments?post=352"}],"version-history":[{"count":1,"href":"https:\/\/nhyirafie.com\/wp-json\/wp\/v2\/posts\/352\/revisions"}],"predecessor-version":[{"id":367,"href":"https:\/\/nhyirafie.com\/wp-json\/wp\/v2\/posts\/352\/revisions\/367"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nhyirafie.com\/wp-json\/wp\/v2\/media\/363"}],"wp:attachment":[{"href":"https:\/\/nhyirafie.com\/wp-json\/wp\/v2\/media?parent=352"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nhyirafie.com\/wp-json\/wp\/v2\/categories?post=352"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nhyirafie.com\/wp-json\/wp\/v2\/tags?post=352"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}