The Chamber of Petroleum Consumers Ghana (COPEC) is projecting fuel prices may go up by about 20pesewas in the coming days. This development is based on a number of factors that have impacted global fuel pricing. Fuel prices currently sell at about GHS 6.6 at the pumps. But there is an expected change in the coming days according to the chamber of petroleum consumers Ghana (COPEC). COPEC has predicted that fuel prices could go back up to about GHS6.8 and the Omicron variant is partly to blame. Economies are beginning to open again after an earlier scare due to the discovery of the variant. This had earlier led to a fall in the price of crude oil on the international market causing the commodity to sell for less than 70 dollars per barrel. However, the price currently stands at about 76 dollars a barrel as it has become apparent that the omicron variant isn’t as vicious as its predecessors. “On the National Petroleum Authority’s (NPA) website we have realized that from the benchmark prices NPA is using to project the prices for the first window of January, local ex pump prices will increase by 3 percent. In nominal terms, we are expecting prices to surge by 20 pesewas per liter across the board.” head of research at COPEC, Benjamin Nsiah stated. “However, some OMCs may not utilize all their margins and if they don’t we are expecting maybe a 15 pesewas increase at the pump beginning 1-16th January 2022.” He added. For the latter part of the month, prices may record a dip and according to Mr. Nsiah, these could be the reasons.“…in the second window of January 2022 prices may drop if the Omicron variant is spreading and countries begin to restrict mobility and also OPEC and OPEC alliance increase their supply unto the market, it may drop the prices on the local front.” Credit: Citinewsroom

Ghana Pentecostal and Charismatic Council (GPCC) has quashed claims that Apostle Prof Opoku Onyinah visited the Founder of Glorious Word and Power Ministry International, Isaac Owusu Bempah, for prophetic direction about his life. According to the Council, the said meeting was held in 2016 to discuss with Prophet Owusu Bempah how best he can communicate his prophecies on the death of some notable people in the country. In a press statement copied to GhanaWeb, GPCC noted that Apostle Opoku Onyinah in the meeting advised Owusu Bempah to be guided on what to say on sensitive matters he gets directly from God. "...After listening to Prophet Owusu Bempah, Apostle Prof. Opoku Onyinah advised him on how men of God should communicate what God gives or reveals to them in public, being sensitive to the sensibilities of those they prophesy to. The council wishes to emphasize with confirmation from Rt. Rev. Dr. Nana Anyani Boadum that, at no point in time during the meeting did Apostle Prof. Opoku Onyinah seek any prophetic direction from Prophet Owusu Bempah. "In any case, why would Rt. Rev. Dr. Nana Onyani Boadum be in the company of Apostle Prof. Opoku Onyinah if the latter was seeking prophetic direction for his personal life?" a statement copied to GhanaWeb highlighted. GPCC has therefore entreated the public to ignore the allegations leveled against Apostle Onyinah by Prophet Owusu Bempah. Prophet Isaac Owusu Bempah, during his 31st night service, used harsh words on the former Church of Pentecost Chairman, Apostle Opoku Onyinah. The controversial prophet during his 2021 end-of-year watch night service, called out the respected Pentecostal leader for what he said is Onyinah's hypocritical attitude on prophecies. According to Prophet Owusu Bempah, the Inspector General of Police, George Akuffo-Adampare made a mistake when he engaged pastors with no prophetic background in his bid to curb doom prophecies. Below is a copy of the letter: Credit: Ghanaweb

The Founder and leader of Glorious Word and Power Ministries International, Prophet Isaac Owusu Bempah had harsh words for the former Church of Pentecost Chairman, Apostle Opoku Nyinah, during his recent crossover session. The controversial prophet during his 2021 end-of-year watch night service, called out the respected Pentecostal leader for what he said is Onyinah's hypocritical attitude on prophecies. According to Prophet Owusu Bempah, the Inspector General of Police made a mistake when he engaged pastors with no prophetic background in his bid to curb doom prophecies. “Let no one try to stand up against prophets. I am going to end the preaching today and I will make a lot of disclosures. “If IGP Dampare wants people to think around the issue of Prophets, he should invite us and allow us to tell him about our work. Why invite people like SDA people who do not believe in prophecies?” he stated. While directly calling out Apostle Onyinah, Owusu Bempah described him as a hypocrite who calls on him (Owusu Bempah) for prophetic revelations but comes out in public to openly condemn prophets. “A Pentecost pastor took me to his house to tell him about prophecies about himself. But the same pastor at a political conference went to call out prophets and prophecies. “Opoku Onyinah should be careful, you took me to your house to tell you about prophecies, you and Anyenim Boadu, what are you talking about. I would have exposed Opoku Onyinah (further) but for my respect for Anyenim Boadu,” he fumed. The Ghana Police Service ahead of the 2021 New Year's crossovers issued a directive against prophets and prophecies saying it will not hesitate to arrest and prosecute anyone who makes a pronouncement that can cause fear and panic in the name of prophecy. The police directive received condemnation from various Christians and church leaders, some of whom described it as an attempt to gag and persecute prophets. Watch the video below: Credit: GhanaWeb

Ghanaians are likely to pay more for fuel during the first pricing window in the new year, the Chamber of Petroleum Consumers (COPEC) has announced. This is due to a cut in global crude supply due to the spreading Omicron virus that has resulted in tightened restrictions. Consequently, prices on the world market have increased, and the ripple effect is higher prices at the local pumps between 1 January to 16 January 2022, which marks the first pricing window. “The ex-pump prices of petrol and diesel are expected to surge by 3.7% and 2.5% respectively,” COPEC said in its monthly report on Monday, 3 January 2022. In nominal terms, ex-pump petrol and diesel prices are expected to increase by 24 pesewas and 17 pesewas, respectively. In nominal terms, the average surge for both products is 20 pesewas representing 3.1%. But some Oil Marketing Companies (OMCs) could increase their prices by less than the 20 pesewas increase due to competition. “If the government suspends the zeroing of the Price Stabilisation and Recovery Levy (PSRL) on diesel, petrol and LPG, then ex-pump prices could surge by at least 34 pesewas,” COPEC added. The chamber further explained that Brent crude futures settled up $1.56, or 2.1%, at $76.85 a barrel, the highest close since 26 November, and a gain of 4.5% on the week as of 23 December 2021. Additionally, the U.S. West Texas Intermediate (WTI) crude futures ended up $1.03, or 1.4%, at $73.79 a barrel, to rise 4.1% on the week as of 23 December 2021. The surge in crude oil prices is due to Libyan supply disruptions cutting the supply of about 300,000 b/d and the lower anxiety towards the new Omicron variant because the variant is containable than previously feared. In Ghana, the National Petroleum Authority (NPA) indicated that the benchmark price for petrol/MT for setting the ex-pump price of petrol in the 1st Window of January 2022 is $707.95/MT. Again, the Benchmark price for diesel/MT for setting the ex-pump price in the same window is $641.38/MT. The NPA set the Ghana Cedi at Ghc6.4040 against a dollar. Using the conversion factor of 1324.4 for petrol from a metric tonne to litres, 1183.43 for diesel from a metric tonne to litres and a maximum total marketer’s margin and dealer’s margin of Ghc0.75 based on the flexibility of OMC margins, as well as a forward rate of Ghc6.4040 to a dollar, the ex-pump prices for petrol, is expected to surge by 3.7%, and diesel is expected to surge by 2.5%. Averagely ex-pump prices are expected to surge by 3.1% in the 1st Window of January 2022 from 1st to 16th January. What can be done to address the situation? The COPEC-Ghana Executive Secretary told The Ghana Report, “We have a local refinery that we could have leveraged to get some fuel security at lower prices, but unfortunately we don’t think there is a political will to refurbish the Tema Oil Refinery”. Mr Amoah observed a fully functional refinery would cut the logistical cost, which adds to the price build-up by exporting crude to Europe to be refined before importing back to Ghana. “They need to get TOR back on stream, and the need for political interference to be stopped holds the key for all for us,” he underscored. Additionally, he cited the Bulk Oil Storage and Transportation Company Limited (BOST) failure in executing its mandate. Mr Amoah explained that BOST is supposed to store huge volumes of fuel and release to the market to level prices and check shortages “without overstretching the already burdened Ghanaian taxpayer”. However, “we do not see that function of BOST, and they are now focusing on trading…which was not the purpose of the BOST Act but to hold strategic stock”. Credit: The Ghana Report

The Motor Traffic and Transport Department (MTTD) of the Ghana Police Service has attributed excessive speeding on the part of drivers as the cause of the many road crashes recorded during the Christmas festivities. Data from the Police MTTD shows that 28 lives were lost with 148 injuries recorded as 133 accidents occurred between December 24-26, 2021. In a similar situation, between December 19 and 25, a total of 81 deaths with 378 injuries were recorded from 373 accidents. The Greater Accra Region recorded the most accidents, followed closely by the Ashanti Region. Speaking to Citi News on the development, Director of Operations at the Police MTTD, Superintendent Dr. Sasu Mensah said the accidents were avoidable. “Most of the drivers on our roads are not respecting traffic rules and regulations. Some of the motorists have not even seen the traffic regulations before, so they are not aware of most of the regulations that govern road use. That is why we have most of the crashes occurring on our roads.” “At this time too, most of them are speeding because they want to go and come quickly by exceeding the speed limit, so what will happen is definitely a crash. That is why we are witnessing this quantum of accidents this festive season.” Dr. Sasu Mensah further expressed worry over the lack of knowledge about the various road regulations on the part of many motorists. Credit: Citinewsroom

As the year opens, as expected, by close or mid-year, some of our beloved readers here could wish to take on marriage/ dating; therefore, Gambian socialite, actress, and Producer Princess Shyngle has dished out what could be Top tips for one to consider before getting into this whole marriage thing, societal pressure, happiness, and how to keep it steadily going. She advises that before you decide to make the decision to get married to someone, do be 100% sure because this is someone you are choosing to spend the rest of your life with. “Be one billion percent sure”. Shyngle also encourages her viewers not to give into the societal pressure not to get married, to someone simply because of communal conditioning, and fear of being lonely. “You should be your partner’s strength and have your back at all times”. The actress also adds that to safeguard your relationship, you must keep it private; – “Keep it away from SOCIAL MEDIA” she emphasizes. Click on the link to watch the full video below: https://youtu.be/yQtFl1TcpB0 Credit: www.africanentertainment.com

Mobile Telephone Network( MTN) says it is set to increase the prices of fibre broadband and turboNet bundle from January 4, 2022. According to information on the desk of Eghnews.com indicates that with the new increase comes with packages like 90 days validity and you’ll enjoy a 50% bonus on every purchase within the first three months after the increment. Check out for the full details; Source: Eghnews.com

A Deputy Finance Minister, John Kumah, has criticised the negative outlook of the economy by the Member of Parliament for the Ajumako-Enyan-Esiam constituency, Dr. Cassiel Ato Forson. In a statement on Facebook, the deputy Minister insisted that Dr. Forson’s predictions are “not supported by data.” “It is unfathomable to think that a former Deputy Minister of Finance could be this pessimistic, speculative and propagandist on important issues concerning the economy of Ghana.” While Mr. Forson expects economic difficulties in 2022, Mr. Kumah said “the economy is expected to grow at 4.9% even with ravaging COVID-19.” “The government is turning around the economy back to the era of high growth before the COVID-19 pandemic came to our shores,” he added. Dr. Forson predicted a 30% increase in the prices of general goods and further depreciation of the cedi as well as more increases in fuel prices. Defending the performance of the cedi, Mr. Kumah said the cedi had depreciated by 3.63% compared to 3.93%, same time in 2020. “This represents one of the lowest depreciation seen in the currency in the last decade. The Pound has only depreciated by 1.64% compared to 7 08% in 2020. The cedi as at end December 2021 had appreciated against the Euro by 4.48%.” “Certainly, it is out of place to speculate about a currency with this sterling performance. Government is confident that the cedi will hold against the major trading currencies in 2022 given all the innovative currency management policies introduced, including the forward auction,” the deputy minister added. Find below John Kumah’s response to Ato Forson Often, you expect those who are well-informed about development in this economy to speak the truth backed by facts. It is unfathomable to think that a former Deputy Minister of Finance could be this pessimistic, speculative and propagandist on important issues concerning the economy of Ghana. It is therefore important, I state categorically, that all the speculations by Hon. Ato Forson are his own creation and are not supported by data. Indeed, the economy is expected to grow at 4.9% even with ravaging COVID-19. The government is turning around the economy back to the era of high growth before COVID-19 pandemic came to our shores. 1. It is not true that prices of goods are to increase by circa 30% as Hon. Ato is speculating. There is no evidence to back this speculation. 2. On the cedi’s performance, I’m surprised at Ato’s submission. As at end December 2021, the cedis had depreciated by 3.63% compared 3.93% same time 2020. This represents one of the lowest depreciation seen in the currency in the last decade. The Pound has only deprecated by 1.64% compared to 7 08% in 2020. The cedi as at end December 2021 had APPRECIATED against the Euro by 4.48%. Certainly, it is out of place to speculate about a currency with this sterling performance. Government is confident that the cedi will hold against the major trading currencies in 2022 given all the innovative currency management policies introduced including the forward auction. 3. On fuel, it is important to state that Hon. Ato’s opinion on potential increase in fuel is not supported by any data. Indeed, the Office of President on 31st December 2021 directed the Ministry of Finance to extend the withdrawal of Price Stabilisation and Recovery Levies on Petrol, diesel and LPG for additional one month. Though fuel prices response to a number of factors, Government is determined to cushion consumers as and when necessary. 4. On taxes, let me intimate that government is not introducing any new taxes as being speculated. The e-levy as was announced by the Finance Minister, is the only levy before Parliament for consideration. 5. On interest rate, Hon. Ato’s expectation of a hike is untenable. Following the banking sector reforms, our banks have been well positioned to lend to credit worthy clients at cheaper cost. Though NPLs have increased due to COVID-19, Government is very certain that interest rates will not go out of the roof. Government through programmes such as YouStart and GhanaCARES will support individuals, businesses and institutions with cheap credit to help them realise their dreams. 6. On domestically focused financing, Hon Ato’s view that such a approach is bad for the economy is laughable. Our domestic market has proven capable of meeting the funding needs of government. Through the numerous policy interventions in the market, the market has now become solid and ready to provide the funding needed to support the budget. In doing so, government in line with the Debt Management Strategy is mindful of the cost-risk trade off and will at all times ensure that fine balance is maintained and to protect the interest of the Republic. Credit: Citinewsroom

The Ranking Member on the Finance Committee of Parliament, Dr. Cassiel Ato Forson says Ghanaians would have to brace themselves up for more economic difficulties this year, 2022. In a six-bullet point post on Facebook, Dr. Forson, who is also the Member of Parliament for the Ajumako-Enyan-Esiam constituency, among other things, said: “folks, we need to brace up for more hardship this year”. He predicted that there would be “at least 30% increase in general goods while the Ghanaian cedi will hit seven cedis to a dollar by the end of the year, 2022″. He based his claim on the fact that, the cedi is currently trading at almost GH¢6.5 to $1. Fuel prices, he said, are “set to go up by 18 pesewas this week and more likely to go up again on account of a weak cedi”. He noted that, there will be “multiplicity of taxes and levies to take effect by the end of January 2022”. He further added that “interest rates are likely to go up again” while the government will be “borrowing heavily from the domestic market” since the Euro bond market is closed to Ghana for, at least, the first half of 2022. Below is a screenshot: Credit: Citinewsroom

The offices and studios of Maranatha Television have been destroyed by fire on the 15th December, 2021. The building which has the networks' television station located in the heart of Nungua-Addogonno, a suburb of Accra, was burnt to ashes. The cause of the fire is unknown. The owner of the Maranatha Television sttaion, Bishop Noble Francis Afotey Odai, disclosed that the incident was disturbing. He said they were having their usual program dubbed "global prayer hour" when the incident ocurred. According to him, they quickly vacated the premises for safety. Bishop Odai expressed joy to the fact that all the 30 people within the premises at the time were safe. "We have been servicing our equipments regularly and I don't know why such a thing could happen to us," he stated. The Bishop noted that the fire ravaged the entire building. Credit: Modern Ghana

Former President John Dramani Mahama has accused his successor, Nana Addo Dankwa Akufo-Addo, of failing to show leadership in steering the affairs of the country. The former President also accused the President of consistently failing to take responsibility when things go wrong. Mr. Mahama who spoke at the 40th Anniversary commemoration of the 31st December Revolution in Accra on Friday, said “Leadership is about responsibility. It is only a poor leader who shirks responsibilities and shift blames. We had power crisis– dumsor in this country– because of lack of investment in generation for many years, and so we were consuming more power than we generated. That was the situation I met, and yet I did not say it is not my fault. I went to Parliament, took responsibility for it and promised to fix it, which we did.” “Today somebody [President Akufo-Addo] claims he inherited a weak economy, which he hasn’t been able to be responsible for, 5 years on. It’s always about Mahama and NDC. If he [Nana Akufo-Addo] can not do the job, he should give way for the NDC to do it for you.” President Akufo-Addo does not think his administration has performed badly at all. He believes his government has done so well and has not let any opportunity to tout the achievements of his administration slide. Speaking on Sunday, December 19, 2021, during the NPP’s National Delegates Conference in Kumasi, Akufo-Addo insisted that his government has chalked more successes than any other government in the Fourth Republic. He thus charged all members of the NPP to be proud of this, and also let Ghanaians know about the good works of his government. Credit: Citinewsroom

The Greater Accra Regional Security Council (REGSEC) has lifted the ban on the closure of all beaches within the region. The decision to close down the beaches was taken on December 24, 2021, after a meeting to discuss the emergence of the Omicron variant and the consequent increase in positive cases recorded in the region. Aside from the closure of beaches, REGSEC has directed that effective, Saturday, December 25, all passengers without face masks must not be allowed to board any public means of transport. On Thursday, December 30, 2021, Greater Accra Regional Minister Henry Quartey said the beaches can now open. According to him, health officials will be stationed at the entrance of the beaches to vaccinate unvaccinated revellers before allowing them entry. He has advised beach owners and organisers to adhere to the protocols or face dire consequences. Speaking on Accra-based Adom FM, he said that the committee will not permit any disobedience to flout the closure of beaches. "Let me assure the owners of these beaches and I say this categorically that we will not countenance any disobeyance to flout the closure of beaches. "If someone thinks the Police in his area are not enough to so stop them from working, we will arrest all these organisers and the owners of the place," he said. Credit: Pulse GH