{"id":56932,"date":"2014-10-16T11:37:07","date_gmt":"2014-10-16T11:37:07","guid":{"rendered":"http:\/\/4cd.e16.myftpupload.com\/?p=56932"},"modified":"2014-10-16T14:16:11","modified_gmt":"2014-10-16T14:16:11","slug":"we-cant-reduce-fuel-prices-govt","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2014\/10\/we-cant-reduce-fuel-prices-govt\/","title":{"rendered":"We can’t reduce fuel prices – Gov’t"},"content":{"rendered":"
Government has stated that it cannot consider reducing fuel prices, despite the falling world market price of crude oil.<\/p>\n
This was revealed by the Minister of\u00a0Energy and Petroleum, Emmanuel Kofi Armah Buah in Accra on Thursday.<\/p>\n
The National Petroleum Authority’s upward reviews in the prices of petroleum products are usually influenced by the rising price of crude oil<\/strong><\/span><\/a> on the international market.<\/p>\n [contextly_sidebar id=”qeEhV5iuKsBGIWR2xy0C9hb69JOhEWd2″]The trend on the global market has reversed but the Energy Minister said government cannot risk following that path.<\/p>\n He explained to citifmonline.com<\/strong> that that, with a major banking crunch looming over Ghana due to government’s outstanding debts to the Bulk Oil Distribution Companies (BDCs), it cannot take that risk.<\/p>\n