Fuel prices to stay

The acting Chief Executive of the National Petroleum Authority, Alex Mould says there are no immediate plans to increase fuel prices.

He said although the authority had had reviews that indicated the need for upward adjustments in prices, that decision was yet to be made.

Speaking to Joy FM Super Morning Show host Kojo Oppong-Nkrumah, Mr. Mould said government, was subsidising the product to cushion the people.

The NPA boss however appealed to government to make money available to the oil marketing companies in lieu of the subsidy.

That, he argued will prevent the situation where oil companies and the state are saddled with huge debts.

Mr. Mould expressed surprise at the reported hoarding by oil companies in anticipation of price hikes.

He also dispelled rumours that the country was running out of fuel stock.
According to him, there is oil stock to last three weeks which he noted is normal.

Myjoyonline.com

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