Radio Progress News first radio station in the Upper West Region
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A resident in the Wa municipality Mr. Alphonsus Naah has stated that recent increase in fuel prices has a ripple effect on the economy and daily life. His comments come following government recent increase of fuel prices at the pumps by COPEC.
In an exclusive interview with radio progress news, he hinted that, higher fuel prices lead to higher transportation costs, affecting commuters, drivers, and transport operators. As a result, farmers and food transporters pass on the increased fuel costs to consumers, leading to higher food prices.
Mr. Alphonsus Naah added that, Fuel price hikes contribute to inflation, reducing the purchasing power of the Ghanaian cedi and makes businesses pass on the increased fuel costs to consumers, leading to higher prices for goods and services.
In his opinion, higher fuel prices disproportionately affect low-income households, small businesses, and the vulnerable populations.
He Mr. Alphonsus Naah noted that, the government needs to take measures to mitigate the effects by putting in price controls, improved public transportation and seeking Alternative energy sources.
