A group of United Kingdom resident Ghanaians, who have volunteered in supporting the ticket of Akufo-Addo and Dr. Bawumia for 2016, to lead and change the hard economic situation in Ghana, have condemned the insensitive-hearted nature of President Mahama’s gov’t towards Ghanaians, for being adamant in reducing prices of oil in Ghana, despite consistent drops of crude oil price on world market. The government, in the opinion of the group, is greedily accumulating huge sums of money as profit from Ghanaian consumers through the oil sale to feed their lavish lifestyle.
Crude oil price has been falling consistently; having currently dropped from $115 per barrel to $70, yet the existing pump price set by the Ghana government virtually remains the same when price was all times high, even at this current reduced crude oil price on world market. Fuel prices in the UK and USA have since been reduced immoderately.
The group, typically Ghanaians, claims to have closely observed that, through this system, life and living conditions have persistently become difficult for the ordinary people, a situation they sympathise with, and share in Ghanaian’s sentiments, contending in a conventional believe that, a fall in crude oil price is always good for consumers in every country, since transport costs feed into the price of every product.
In fairness, therefore whenever crude oil gets cheaper, everything ought to become cheaper, but this believe does not seem to exist in Ghana under this President John Mahama-led NDC government. Even, notwithstanding experts’ forecast that oil price will continue to fall or stay below $80 per barrel for a long while into 2015, as concerned governments reciprocate in reducing oil prices, at least for a brief breathing space for consumers, the NDC gov’t has shown no sign of considering the suffering of Ghanaians living under high and hardly affordable living conditions.
By way of strengthening a cause for calling on President John Mahama to reduce oil prices in Ghana, a chronicle of consistent fall in world oil price has been cited with particular indices such as the falling factory output in China and the onset of recession in Europe, which mean that a continuing fall in crude oil price is inevitable. It further argues that, recent return to oil production by Algeria, Libya, Iraq and Iran means that the world is bracing for over-supply of crude oil.
The astonishing rise in production by hydraulic fracturing in the USA means that America is also increasingly self-sufficient in oil. Common knowledge in economics teaches that, when supply exceeds demand, a fall in the price of any product is unavoidably. With this knowledge, it is obvious that, when a product is over-supplied, prices fall continually until enough suppliers are forced out of the market, to reduce supply to the level of demand.
Clearly, this shows a sustained on-going drop in crude oil price on the world market, therefore, this John Mahama-led NDC gov’t should have correspondingly reduced oil prices immoderately in Ghana by now.
These UK-resident Ghanaians lament about the worrying spate of looting and corruption, prevalent in Ghana, and bemoan Ghana deserves far better than this ineptitude, mismanagement, corruption and insensitivity in the administration, saying, a “Change of administration is ripe for a leadership that listens, respects, and feels for the plight of Ghanaians, with an acute preparedness and capability to mend situations and living conditions; an administration that is sensitive and alive with a spirit of providing solutions. A change for a leadership that is poised to prepare the future from today.
Ghana needs a proven incorruptible leader like Nana Addo Dankwa Akufo-Addo to steer the affairs of our beloved country.
Source: Akufo-Addo and Bawumia For 2016, UK Voluntary Campaign Group.
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