We won’t reduce prices despite fuel price reduction – Traders

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The Ghana Union of Traders Association (GUTA) says the 10 percent

reduction in fuel prices announced by the National Petroleum Authority

(NPA) will not amount to any reduction in goods and services on the


Since the reduction was announced on Wednesday, pressure has been

mounting on transport operators and traders to reduce their wares and

fares in line with the NPA's announcement.

However GUTA in an interview withCiti Newssaid its members will not

reduce the prices of their products since the cost of transacting

business has not changed.

The President of the GUTA, George Ofori said :"I am saying no [to

reduction in prices of goods] because people use the cost of old price

in determining the kind of transaction done."

He said a similar situation that occurred in relation with the

depreciation of the cedi affected the Association's operations,

saying, "it is the same thing that is happening to the US dollars to

the cedi where we had a lot of depreciation that affected us …"

Government on Wednesday announced a 10 percent reduction in fuel

prices afteri ncessant pressure from various politicaland pressure

groups but government's decision to reduce fuel prices by only 10

percent has angered various groups.

Pressure Group Occupy Ghana has for also asked the NPA to publish how

it arrived at a ten percent reduction on the petroleum products.

The group is insisting the explanation by the NPA is not enough.

Credit: citifmonline.com

Kofi Oppong Kyekyeku

I am a Ghanaian Broadcast Journalist/Writer who has an interest in General News, Sports, Entertainment, Health, Lifestyle and many more.

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