Deputy Minister of Energy, Andrew Egyapa Mercer is confident that the government’s Gold-for-oil policy will reduce the increase in fuel prices.
He explained that Ghana’s negotiations at the international level will determine the price of fuel in the country.
“The price of oil has a benchmark that is sold, but there is a premium also for countries that deal with natural commodities. So the level you negotiate your premium is how much you can save and pass it on to your consumers,” he said. NEAT FM morning show, ‘Ghana Montie’.
He also dismissed earlier claims that the government paid for the first shipment of oil brought to Ghana under the Gold-for-Oil policy.
Source: King Edward Ambrose Washman Addo/peacefmonline.com/ghana
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