The total volume of finished petroleum products sold by Oil Marketing Companies (OMCs) fell by 4% in the first half of this year compared to the volume of product last year during same period.
According to some experts, the drop in consumption is attributed to the surge in prices of the product.
In an interview with the media, the head of Economic and Regulations at the National Petroleum Authority (NPA), Abass Tasunti said, people have changed their lifestyles to suit the situation hence, they’ve started using low consumption cars just to make sure their cost of fuel is reduced.
“If you check the numbers, indeed consumption has been dropping but there is a reason. I think we all agree here that price is very sensitive, it is not only in Ghana” he said.
“I even saw publications from the International Energy Agency advising people to reduce consumption and ways to make sure they reduce consumption because price has been sky rocketing and I know people have started using low consumption cars just to make sure that the cost of fuel is reduced” he added.
story by Nana Ama Nyamekye/Ahotoronline
