Fuel prices increase by about 11%: Business News of Thursday, 5 January 2017

Prices of some petroleum products have gone up by 11 percent for the first pricing window in January.

Checks by Citi Business News indicate that the price of a litre of petrol has gone up between 8 and 11 percent while the same quantity for a litre of diesel has gone up between 9 and 11 percent.

A litre of petrol at some major Oil Marketing Companies (OMCs) is now selling between 4 cedis and 4 cedis 15 pesewas.

Also, the price of a litre of diesel could be sold to you at 4 cedis and 4 cedis 15 pesewas.

At Total filling stations, petrol has been increased by 31 pesewas, with a litre selling at 4 cedis 10 pesewas as against the 3 cedis 79 pesewas in December.

Also, the price of a litre of diesel has gone up by 36 pesewas, currently selling at 4 cedis 15 pesewas from 3 cedis 79 pesewas.

Shells price per litre of petrol has shot up by 31 pesewas; from 3 cedis 78 pesewas to 4 cedis 10 pesewas.

Diesel has also increased by 36 pesewas as a litre is now selling at 4 cedis 15 pesewas as against the earlier 3 cedis 79 pesewas.

Goil has also recorded a price jump as their products are now selling at petrol 4 cedis 8 pesewas and diesel also at 3 cedis 99 pesewas.

Meanwhile SO energy is selling both a litre of petrol and diesel at a new price of 4 cedis.

Other filling stations also equally increased their prices as at the time Citi Business News visited the pumps.

The OMCs have however dismissed reports that the increases had been made ahead of the two week pricing window.

According to them, the adjustments are within the pricing window frame.
Meanwhile the Chamber of Petroleum Consumers has expressed dissatisfaction at the development.

The Chamber’s Executive Secretary, Duncan Amoah tells Citi Business News the persistent increases are worrying.

“I don’t think Ghanaians are happy with the sort of increases that we have seen in recent times; before this window, we saw 4-6% increases in prices.

Earlier than that there had been some 3-11% increases that was even contested but eventually reflected at the pumps. What we are not happy about is the persistence with which fuel prices are going up in the country.”

He believes government can take up the mandate to ensure prices are reduced.
“We believe that the government and the incoming government would have to reconsider the taxes we have on petroleum products in Ghana.”