May 13, 2009

fuel prices


DOES FUEL PRICES AFFECT GENERAL PRICES
For sometime now I've been monitoring changes in fuel prices in Ghana and how it has affected prices of goods and services in general under the NPP administration(before january 2009).
To my utter dismay, I found out that increase in fuel prices cause drastic changes in general prices but a decrease in it, cause little or no change at all.
This practice by the past Government did not do Ghana any good, those involved in changing regulating fuel prices focuses more on changes in fuel prices but those involve in seeing to it that it affects general prices don’t seem to realize it.
Since the increase in fuel prices in the early months of last year, which caused general prices to increase drastically, it has not decreased even after the second time fuel prices had decreased.
All other things being equal, changes in fuel prices should lead to changes in general prices of goods and services, this i learnt in Economics,which has help develop many countries but in Ghana, i think this is taught in the classrooms instead of applying it.
I say kudos to the National Petroleum Authority(NPA) but there is more to this than decreasing and increasing fuel prices and allowing us to do the rest.
I would like to take this opportunity to make a passionate appeal to the NDC administration not to do the same mistake by the NPP Government, even if they decrease it to the GHC 2.00 they promised, it should affect prices there by leading to a better living standards of the people.

ALLOTEY GODWIN AKWEITEH
GHANA INSTITUTE OF JOURNALISM
BOX 667 ACCRA