Fuel Prices Rise
The prices of a litre of petrol and diesel have seen an increase at the various pumps in the country in the second pricing window of April 2023.
Oil Marketing Companies like Goil and Total have the new prices already reflected on their price boards.
As of Monday, April 17, a litre of diesel is selling at GHC12.99 at both Goil and Total but the prices of petrol differ.
At Goil outlets, a litre of petrol is going for GHC13.10 whereas it is selling at 12.99 at Total fuel stations.
Last week, the National Petroleum Authority (NPA) announced an increase in Fuel Marketing Margin in the Price Build-up.
The 9 pesewas per litre increase in Petrol, diesel, kerosene and other petroleum products was to take effect on April 16.
This was criticised by stakeholders who held that it would lead to an increase in fuel prices and burden consumers.
On March 15 the NPA evoked and pegged the margin back at 4 pesewas per litre.
The current increase in fuel can be attributed to the increase in crude oil on the international market and the cedi’s plummet recently against other international denominations.
Earlier in April, the world’s largest oil exporters announced cuts in production by more than one million barrels a day.
The fear that this may contribute to an increase in fuel prices globally is beginning to take effect.
