Cedi depreciation, Russia-Ukraine war cause of high fuel prices – Dep. Energy Minister: Read more: https://myblogpay.com/read/57472/cedi_depreciation_russia_ukraine_war_cause_of_high_fuel_prices_dep_energy _minister via @myblogpay #blogpay.
The cedi has been on a continuous downward trend against major trading currencies since the beginning of the year.
The fall in oil prices, which began in mid-2014, has exacerbated the situation as Ghana is a net importer of petroleum products.
In an interview with Myjoyonline.com on Monday, February 9, 2015, Deputy Minister for Energy in charge of Power John Jinapor said the fall in crude oil prices was not the only reason behind the increase in fuel prices at the pumps.
He explained that there were other factors such as the depreciation of the cedi and the Russia-Ukraine war which had also contributed to pushing up fuel prices.
Cedi depreciation, Russia-Ukraine war cause of high fuel prices – Dep. Energy Minister: Read more: https://myblogpay.com/read/57472/cedi_depreciation_russia_ukraine_war_cause_of_high_fuel_prices_dep_energy _minister via @myblogpay #blogpay.
The cedi has been on a continuous downward trend against major trading currencies since the beginning of the year.
The fall in oil prices, which began in mid-2014, has exacerbated the situation as Ghana is a net importer of petroleum products.
In an interview with Myjoyonline.com on Monday, February 9, 2015, Deputy Minister for Energy in charge of Power John Jinapor said the fall in crude oil prices was not the only reason behind the increase in fuel prices at the pumps.
He explained that there were other factors such as the depreciation of the cedi and the Russia-Ukraine war which had also contributed to pushing up fuel prices.
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