Amin Adam challenges NDC over fuel price explanations
Former Finance Minister and Ranking Member of Parliament’s Finance Committee, Dr Mohammed Amin Adam, has criticised the governing National Democratic Congress (NDC) over its response to rising fuel prices, arguing that similar international market pressures were cited differently when the New Patriotic Party (NPP) was in office. In a Facebook post on Sunday, September 27, […]
Former Finance Minister Dr Mohammed Amin Adam has criticized the National Democratic Congress (NDC) for its explanations regarding rising fuel prices in Ghana. Adam argues that the factors currently used to justify fuel price increases, such as global petroleum prices, exchange-rate movements, and international market conditions, were present during the New Patriotic Party (NPP) administration.
He recalls that during the 2021 fuel price debate, the NDC attributed increases to poor economic management, taxes, and cedi depreciation, despite experiencing global energy shock following the COVID-19 pandemic. Adam cites data from the US Energy Information Administration, which shows that Brent crude oil prices rose from about US$50 per barrel in early 2021 to around US$86 by late October of that year.
He further points out that Ghana, as a net importer of refined petroleum products, is exposed to international price movements and exchange-rate changes.
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