The deputy Energy Minister, Andrew Egyapa Mercer believes the government’s Gold-for-oil policy will alleviate the hike in fuel prices.
He explained that Ghana’s negotiation at the international level will determine the fuel prices in the country.
“Petroleum prices have a benchmark been sold for, but then there is a premium also for a country dealing with their natural commodities. So the level you negotiate your premium is how much you are able to save and pass on to your consumers,” he explained on NEAT FM’s morning show, 'Ghana Montie'.
He also cleared earlier claims that the government paid for the first consignment of oil brought into Ghana under the Gold-for-Oil policy.