Middle East Tensions: Abossey Okai Dealers Rule Out Spare Parts Price Hike
Association insists customers will not bear the burden of rising fuel costs for now.
- The Abossey Okai Spare Parts Dealers Association says it will not increase spare parts prices despite rising petroleum costs linked to Middle East tensions
- Dealers cite the stable exchange rate, a recent monetary policy rate cut
- The Association says it is closely monitoring global developments but remains committed to protecting customers
The Abossey Okai Spare Parts Dealers Association has assured customers that it will not raise spare parts prices despite the recent spike in petroleum costs triggered by escalating tensions in the Middle East.
The Association acknowledged that rising fuel prices often lead to increased transportation and operational costs. However, it stressed that members are determined to protect consumers from immediate price increments.
According to the group, the relative stability of the cedi against the dollar and the recent reduction in the monetary policy rate provide some cushion against potential price adjustments.
Head of Communications for the Association, Takyi Addo, said in an interview that although the fuel price surge may have some impact, dealers are adequately prepared to absorb possible shocks.
He referenced comments by National Petroleum Authority boss, Edudzi Tameklo, who indicated that Ghana has sufficient petrol and diesel stocks to last for the next six months.
“It means the government has done well. As a government, you should prepare because external forces can hit at any time,” he noted.
When asked whether spare parts prices would be adjusted if fuel costs continue to rise, Takyi Addo firmly responded in the negative, expressing confidence in the current administration. He added that the exchange rate remains fairly stable and that the Association is closely monitoring developments while hoping tensions do not worsen.
The comments follow assurances from the National Petroleum Authority that adequate fuel reserves are in place to sustain domestic supply.
Despite rising global crude oil prices and ongoing geopolitical uncertainty, the Association maintains that consumer protection remains a priority as it carefully assesses market conditions before making any pricing decisions.
