Chairman of Abossey Okai Spare parts Dealers Association, Clement Boateng has stated categorically that the recent increment in petroleum products will not affect the pricing of their goods.

He pointed out that a hike in fuel prices is not one of the factors they consider when increasing the prices of spare parts.

Mr Boateng noted that they only re-adjust their prices when the exchange rate and duties tax shoot.

“We don’t determine price increase regarding the increment of fuel. It doesn’t have any connection.

"There are two factors that contribute to our price adjustment and one is the exchange rate and number 2 is about the duties and we all will attest to the fact that for quite sometime now the exchange rate has been stable and we don’t have problems since the benchmark concept was introduced so these are the two factors we consider when we want to increase prices but not on petrol increment," he stated in an interview with GhanaWeb's Ernestina Serwaa Asante.

The Energy Ministry, after holding a meeting with key stakeholders in the petroleum sector on Tuesday, May 4, 2021, reduced fuel margins from 17 pesewas to 9 pesewas.

This comes after some stakeholders described the newly introduced energy sector levy as insensitive to the plights of Ghanaians.