ACCRA, April 15 (Xinhua) -- The Ghanaian government announced on Wednesday that it will begin subsidizing fuel prices to help protect consumers from rising costs linked to the ongoing Middle East crisis.
This announcement came after prices at the pump increased by 15 percent at the beginning of April, with petrol now priced at 13.3 cedis (about 1.2 U.S. dollars) per liter and diesel at 17.1 cedis per liter.
In a statement, Government Communications Minister Felix Kwakye Ofosu said the government would, from April 16, cover two Ghana cedis per liter of diesel and 0.36 cedis per liter of petrol.
The intervention, approved by the cabinet for one month, is in response to rising prices of petroleum products on the international market, which have had a significant impact on ex-pump prices in Ghana, the minister said.
"This intervention is designed to cushion consumers and ease the cost burden of petroleum products on households, transport operators and businesses," Ofosu added.
