The Chief Executive Officer (CEO) of the Petroleum Commission has been explaining why Ghanaians pay more for petroleum products even when the prices of the products are reduced on the international market.
Mr Egbert Faibille was reacting to a question posed to him by Nana Kobina Nketiah V, Omanhen of Esikado during the Petroleum Commission- Western Region House of Chiefs meeting.
Mr Faibille in response said Ghana earns more money by selling its fuel on the international market rather than domestically and buys refined petroleum products in return.
This factor contributes to the high cost of petroleum products in the local market.
He added that if the situation is to change, then new petroleum agreements must be amended.
He said, “Ghana is not a prolific producer of oil and it will be wise to export our oil to other countries than to use it domestically.”
Source: Rosaline Djan
