JUST IN: Fuel Price Goes Up By 6.2%

A day after the Institute of Energy Security predicted that fuel prices at local pumps in Ghana would rise, the increases have taken effect, with Ghanaians paying around Gh¢7.49 for diesel and Gh¢7.15 for petrol for a litre of fuel

Total, one of Ghana’s most popular fuel stations, has already implemented the price hikes, with a litre of diesel costing Gh¢7.490 and petrol costing Gh¢7.130.

Shell and other gas stations across the country have begun to modify their pricing in response.

The IES predicted a 6.2 percent increase in Brent and a 9.78 percent increase in gasoline prices, respectively.

“As a result of the positive worldwide price shift, customers should expect an increase in local fuel costs in the near future.” Fuel costs are expected to grow from 6.70 pesawas to 7.49 cedis per litre at the pumps this year, according to the institution, which issued a warning four days ago

The Ghana Private Road Transport Union (GPRTU), the country’s largest transport union, last week said the operations of its members have become difficult because they are currently running at losses due to the current price of fuel.

The General Secretary of GPRTU, Godfred Abulbire, in interview said, they expected the government to keep its word by ensuring a reduction in the price of fuel but fuel prices have rather shot up.

He said the situation of drivers and car owners is unfortunate and there is an urgent need for them to be given some respite. 

“All the efforts we made before the reading of the budget has not yielded any result. We were told that definitely from the next pricing window fuel prices would come down but that same night, GOIL was able to come down which was an indicator that what we were requesting will be achieved. So we concluded the meeting with the hope that by the following week, GOIL would go lower. Shortly after, fuel prices started going up, and far more than we thought. It is serious. We are running at a very serious loss,” he said.

Source: GhanaFeed.com