According to the Chamber of Petroleum Consumers (COPEC), Ghanaians should disregard reports that petroleum product prices will be reduced as a result of the government’s yet-to-be-implemented Gold for Oil Policy.
Speaking to Starr News, COPEC Executive Secretary Duncan Amoah stated that if the 40,000 tons expected to be distributed reach the market, there will be no reduction at the respective pumps.
“Your media colleagues are misreporting. I’m not sure what they’re hoping to gain from this. But it is their problem if they want to support gold in exchange for oil. The truth is that you have not suggested the cost of the product itself”.
“As a result, you’re probably unable to determine what and how much you’re putting on the market. So, anyone who says we said it was going down is simply misreporting. We haven’t said anything about it going down. We ran the numbers and determined whether they were positive or negative. “It may not even have an effect on the market,” Mr. Duncan explained.
“But, again, it can only be fair to the political communicators around the gold for oil who say that the oil will be cheaper,” he added. So we say, well, if they have that magical ability to make oil cheaper. We’ll be interested to see how that turns out.”
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