Former Sekondi MP and Deputy Energy Minister, Andrew Egyapa Mercer, has urged government to increase its fuel intervention from GH¢2 to GH¢5 per litre, arguing that higher crude oil prices have given the state significant extra revenue.
Speaking on Adom FM’s Dwaso Nsem, Mercer noted that when the Russia-Ukraine crisis pushed global oil prices to about $150 per barrel, the NDC blamed the erstwhile Akufo-Addo government.
He stressed that international oil prices are largely beyond the control of any Ghanaian government.
However, he described the current high prices as a “blessing in disguise” for Ghana because of increased revenue from the country’s crude oil exports.
According to him, government budgeted oil at $76 per barrel, but prices are now around $100.
This, he said, means the state is earning nearly $30 more on every barrel than it planned for.
Mr. Mercer argued that the extra revenue should be used to provide greater relief to Ghanaians struggling with high fuel prices.
“So they should cushion Ghanaians. We can do 5 cedis relief instead of the 2 cedis so people will be relieved,” he said.
He maintained that with the additional income from crude oil, government is in a better position to expand the current intervention and ease the burden on consumers.
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