Fuel prices up again, a galon of diesel now ¢105 on 1-11-2022

Fuel prices up again, a galon of diesel now ¢105 on 1-11-2022

Ghanaians wake up to a shocking news ever. Price fuel, both petrol and diesel seeing the highest increase ever in 2022.

LAST WEEK FUEL PRICE INCREASE

Already, there has been some 10 percent increase barely a week ago. This brought a litre of petrol and diesel to an average of ¢17.54 and ¢19.84 respectively. That was on 27th October 2022.

HINT FROM OIL MARKETERS

Speculations, either accurate or otherwise, informs changes in prices. Oil Marketing Companies– OMCs are the sellers of fuel. Yesterday, their association Chairman, Mr. Kwaku Agyeman Duah gave NewsNowGh an analysis on yet another price shoot.

“Starting tomorrow, fuel prices are expected to increase to GH¢17 per litre for petrol. That would be at the lowest side of the price margin” – Kwaku Agyeman Duah, Chairman – Association of Oil Marketing Companies

THE CURRENT FUEL PRICE TODAY

Just as disclosed to NewsNowGh, some OMCs have already changed prices on their signage. Grounds check by NewsNowGh reveal that Total Energies and Goil are selling a litre of Petrol and diesel at ¢17.99 and ¢23.49 respectively. This translate into a galon of diesel selling at ¢105 and petrol at ¢81.

THE CAUSES OF THE FUEL PRICE INCREASE

This should be blame on the global price increase. Currently, WTI crude is selling at $87.72, whereas Brent Crude is $94.20.

In addition to that, Ghana’s domestic problem of cedi depreciation has also become a contributory factor.

For more local news, CLICK HERE