IES urges gov’t to intervene as rising fuel prices deepen financial hardship for Ghanaians

"That intervention demonstrated Government's commitment to protecting Ghanaians from the full impact of petroleum price volatility and underscored the importance of timely policy responses in periods of rising fuel prices," it noted." While acknowledging that domestic fuel prices are largely influenced by international crude oil prices, exchange rate movements and the country's petroleum pricing framework, IES argued that government should not remain passive when external factors threaten the economy.

President John Dramani Mahama "Since fuel is a key input in transportation, agriculture, manufacturing, and commerce, sustained increases in pump prices inevitably translate into higher transport fares, rising food prices, increased production costs, and renewed inflationary pressures," the statement said.