EconomyHeadline

Petrol now sells at ¢13.90 with diesel going for ¢15.60 per litre

1 Mins read

Petrol now sells at ¢13.90 with diesel going for ¢15.60 per litre

Some Oil Marketing Companies (OMCs) have started increasing the prices of petroleum products at the pumps.

The marginal increase is due to the depreciation of the cedi and the slight increase in the price of crude oil. It is the first in about a month.

Now, the price of petrol per litre is going for about ¢13.90, from ¢12.40, whilst that of diesel is selling at about ¢15.60 per litre, from about ¢13.70.

The prices are, however, slightly lower at some OMCs.

It is unclear whether the price of Liquefied Petroleum Gas (LPG) will go up or remain stable.

The Institute for Energy security had reported earlier that barring any government intervention, fuel prices will go up between 5% and 9% per litre from January 16, 2023, at the pumps.

According to the IES, the expected surge in fuel prices is a result of the rise in the prices of petroleum products on the international market and the depreciation of the cedi.

“Following the 8.69% rise in the price of gasoline [petrol] and 2.19% in the price of LPG [liquefied Petroleum Gas], together with the 9.89% depreciation of the local currency against the US dollar, the Institute for Energy Security (IES) projects a rise in price for products at the various pumps”.

 

Source: Myjoyonline.com
See also  Securing an indenture doesn’t guarantee ownership of land
Related posts
Headline

Sahara Solace Triumphs Again! Crowned Liqueur of the Year 2023 at Kempinski Hotel

2 Mins read
Sahara Solace Triumphs Again! Crowned Liqueur of the Year 2023 at Kempinski Hotel In the realm of liqueurs, one name consistently rises…
EconomyfinancelocalNews

IMF Forecasts 5% Growth Rate for Ghana in 2025

1 Mins read
IMF Forecasts 5% Growth Rate for Ghana in 2025 The International Monetary Fund (IMF) has projected a robust growth of 4.4% for…
EconomylocalNews

High Government Debt and Other Factors Drive 850,000 Ghanaians into Poverty, Report Finds

1 Mins read
High Government Debt and Other Factors Drive 850,000 Ghanaians into Poverty, Report Finds A report by the Women in Informal Employment: Globalizing…

Leave a Reply

Your email address will not be published. Required fields are marked *