Ghanaians deserve GH¢5 fuel relief; gov’t can afford it – Egyapa Mercer

Former Sekondi MP and Deputy Energy Minister Andrew Egyapa Mercer has called for increased fuel intervention from the government, suggesting a relief of GH¢5 per litre compared to the current GH¢2. He argues that higher global crude oil prices have significantly increased the state's revenue. Mercer points out that when global oil prices surged to $150 per barrel due to the Russia-Ukraine crisis, the previous NDC government blamed Akufo-Addo.

However, he emphasizes that international oil prices are largely uncontrollable by Ghanaian governments. Mercer sees the current high prices as a "blessing in disguise" for Ghana because of increased revenue from crude oil exports. The government had budgeted oil at $76 per barrel, but prices have now reached around $100. This means the state is earning nearly $30 more per barrel than originally planned, according to Mercer.

He suggests using this extra revenue to provide greater relief to Ghanaians struggling with high fuel prices, proposing a 5 cedi relief instead of the current 2 cedis. Mercer believes that with the additional income from crude oil, the government is in a better position to expand the current intervention and alleviate the burden on consumers.