Ghanaians should expect further reduction in fuel prices – Dep. Information Minister

Pius Hardzide

Speaking to journalists, Mr Hadzide explained that the inflation drop should lead to a reduction in fuel prices and other consumer goods.

He said this will also reduce the financial burden on Ghanaians.

Petrol is expected to see a 5.8% reduction, while diesel and LPG will see a 4.8% and 2.4% reduction respectively.

Mr Hadzide added that the government’s decision to scrap some taxes in 2017 also contributed to the decline in the prices of the petroleum products.

“Fuel prices which have also been experiencing an upping over a 2 month period have also been on a gradual decline in recent weeks. The government further expects a drop in fuel prices by an average of 5.8% reduction for petrol. 4.8% for diesel 2.46% reduction for LPG. This is occasioned by the marginal strength of the cedi and the prices around the world. These reductions come on the back of several other interventions including the reduction in some 14 tax handles, reduction in the electricity tariffs, reduction in taxes of petroleum products from 40% to 26%,” he said.

In November 2018, the year-on-year inflation reduced from 9.5 per cent in October 2018 to 9.3 per cent. This is the lowest in five years.

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Linet Toto excited as she unveils sleek ride after 1 month in office [Photos]

Linet Toto excited as she unveils sleek ride after 1 month in office [Photos]

Africa’s richest man Aliko Dangote poised to overtake another Russian billionaire Vladimir Lisin on Bloomberg billionaires list

Africa’s richest man Aliko Dangote poised to overtake another Russian billionaire Vladimir Lisin on Bloomberg billionaires list

Diwali 2022: Is Monday a public holiday in Kenya?

Diwali 2022: Is Monday a public holiday in Kenya?

Aliko Dangote the richest man in Africa just got richer

Aliko Dangote the richest man in Africa just got richer

Mzee Kibor's will made public, revealing how vast wealth and millions will be distributed

Mzee Kibor's will made public, revealing how vast wealth and millions will be distributed

Ini Edo posts new photos amid reports of welcoming a baby through surrogacy

Ini Edo posts new photos amid reports of welcoming a baby through surrogacy

Mathias Pogba brands Paul Pogba 'a so-called Muslim steeped in witchcraft' amid fetish claims about Kylian Mbappe

Mathias Pogba brands Paul Pogba 'a so-called Muslim steeped in witchcraft' amid fetish claims about Kylian Mbappe

Referee behind chaos at AFCON was rushed to hospital after match

Referee behind chaos at AFCON was rushed to hospital after match

Ne-Yo speaks out after wife Crystal announced end of their 8-year marriage

Ne-Yo speaks out after wife Crystal announced end of their 8-year marriage