Mahama moves to shield fuel prices as crude oil costs rise
President Mahama has directed the Ministers of Energy and Finance to develop plans to protect the country’s recent reductions in petroleum prices, following the sharp increase in crude oil prices triggered by escalating tensions between Israel and Iran.
While speaking during his Thank You Tour in the Savannah Region, President Mahama recognized the country’s strides in economic stabilization but warned that international developments continue to pose risks.
“Although we have made significant progress stabilizing the economy, Ghana is not immune to the effects of global events,” the President noted.
He highlighted that the ongoing missile exchanges between Israel and Iran have caused crude oil prices to spike, threatening to reverse recent improvements in domestic fuel costs.
In response, President Mahama has directed the Ministers of Finance and Energy to closely monitor the evolving situation, analyze its potential impact on local petroleum prices, and implement measures aimed at preserving the gains achieved.
Turning to infrastructure, the President announced that construction work will soon begin on the long-delayed Damongo Water Supply project, which aims to provide clean and safe drinking water to residents of Damongo and neighboring communities.
“Clean water is a basic human right, not a privilege,” President Mahama emphasized.
He confirmed that the European Union has pledged funding for the initiative and that all design work has been finalized. The water system will draw from the White Volta River at Yape, serving approximately 8,000 people in Damongo and communities along the pipeline.
