The CEO of the National Petroleum Authority (NPA), Godwin Edudzi Tamakloe, has signalled that government may be forced to make major decisions if global crude oil prices rise to $120 per barrel.<\/p>\n\n\n\n
Speaking on PM Express on Joy News, he indicated that such a price level would trigger deeper policy discussions at the highest levels of government.<\/p>\n\n\n\n
\u201cAnything beyond maybe $120 per barrel for the world price of crude, then the conversations can be firmed up,\u201d he said.<\/p>\n\n\n\n
His comments come amid growing concerns over fuel price volatility and its impact on consumers.<\/p>\n\n\n\n
Mr Tamakloe said authorities are currently observing how global markets react before taking any concrete decisions, stressing that some interventions require broader consultations.<\/p>\n\n\n\n
\u201cSome of these decisions require broader conversation, possibly ministerial or Presidential level. What we have is a window to study how the market will generally react, which will inform some of the decisions. <\/p>\n\n\n\n
“If this becomes more extended, that one, I know that there will be a bigger conversation, just that I do not have the authority to make some disclosures now.\u201d<\/p>\n\n\n\n
Pressed on what assurances can be given to consumers on price stability, he suggested that any firm guarantees would depend on how the global situation evolves.<\/p>\n\n\n\n
He acknowledged that rising crude prices would inevitably affect local fuel prices, reinforcing concerns about the direct impact on consumers.<\/p>\n\n\n\n
However, he pointed to growing concern at the highest level of government over the situation.<\/p>\n\n\n\n
\u201cIn the past few days, the President had been generally concerned about prices. He has been greatly concerned that I can tell you.\u201d<\/p>\n\n\n\n
Mr Tamakloe added that government would act within its mandate to cushion consumers if necessary.<\/p>\n\n\n\n
\u201cAnd so if there is anything within the rules books on how to mitigate the impact for the average Ghanaian, the President will not hesitate at all. I mean, his record is there.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The CEO of the National Petroleum Authority (NPA), Godwin Edudzi Tamakloe, has signalled that government may be forced to make major decisions if global crude oil prices rise to $120 per barrel. Speaking on PM Express on Joy News, he indicated that such a price level would trigger deeper policy discussions at the highest levels […]<\/p>\n","protected":false},"author":8,"featured_media":31462,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_post_source_name":"","_post_source_url":"","footnotes":""},"categories":[43,1],"tags":[8051,8590,5499,13012,11638,6569,5467,4521,2264,10742,6723,5441,1761,5081,2627,3805,11377,12103,10390,36],"class_list":["post-48989","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-local-news","category-news","tag-consumers","tag-conversation","tag-crude-oil","tag-edudzi-tamakloe","tag-forced","tag-fuel","tag-fuel-prices","tag-ghanaian","tag-government","tag-market","tag-npa","tag-oil","tag-oil-prices","tag-petroleum","tag-pm","tag-president","tag-presidential","tag-price","tag-prices","tag-world"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/48989","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/comments?post=48989"}],"version-history":[{"count":1,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/48989\/revisions"}],"predecessor-version":[{"id":48990,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/48989\/revisions\/48990"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/media\/31462"}],"wp:attachment":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/media?parent=48989"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/categories?post=48989"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/tags?post=48989"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}