Accra, Aug. 8, GNA - The Committee for Joint Action (CJA) on Monday cautioned the Government against increases in petroleum prices saying any hike was bound to heighten economic hardship.

In a statement signed by Granfadaa Ayitomeka for the CJA, a pressure group that has been demonstrating against last February's 50 per cent hike in fuel prices and general living conditions, it said the Government's July 15 petroleum price build up must have taken into account the current world market price of crude oil of about 60 dollars. It said the July 15 prices build up increased the ex-refinery price of a gallon of petrol by 445 cedis to 14,300 cedis a gallon. The CJA said at its press conference on August 2, it pointed out that while the ex-refinery prices had been increased, the ex-pump prices remained the same.

"This was made possible by the reduction of TOR Debt Recovery Levy. It vindicated our stance that it is possible to review downwards prices of petroleum products by reducing taxes and levies imposed by the government."

It said given the figures in the prices build up, it remained unclear the basis of speculations that ex-pump prices of petroleum products were about to go up.

The CJA said already, the Metro Mass Transit Company had already raised fares by about 50 per cent.

"The CJA will hold the New Patriotic Party Government responsible for the hardships on the people."