Fuel prices increased 15%

• Posted on July 2, 2015July 2, 2015
• by Nana Kwesi Coomson
• Comment

Oil Marketing Companies (OMCs) exhibited new prices at their filling stations after the 15 percent increase in the prices of petroleum products took effect yesterday.

This comes few weeks after the National Petroleum Authority (NPA) announced a nine percent increase in the prices of fuel products.

According to government, the intermittent increase in the prices of petroleum products would allow OMCs to fix the prices of products and help stop subsidizes under full petroleum price deregulation.

Formerly, a liter of petrol on average was sold at about GH¢3.47 at filling stations across the country while diesel was sold at GH¢3.37 on the average.

Presently, petrol is selling at GH¢3.979 at all Total Filling Stations while diesel is going for GH¢3.730.

Kerosene can also be purchased at GH¢3.690 per litre.

At Allied Oil filling stations, petrol is being sold at GH¢3.978 while diesel is being sold at GH¢3.736.

At Shell filling stations, a litre of petrol is going for GH¢3.979 while diesel is selling at GH¢3.737.

A litre of petrol is being sold at GH¢4.026 at the Benab Filling near the Atomic Roundabout station with diesel going for GH¢3.770.

Other OMCs have also displayed their new prices, and the development is definitely going to have an effect on the prices of goods and services.

It would be recalled that GOIL maintained the prices of its petroleum products after NPA announced a nine percent increment in the prices of petroleum products.

GOIL consequently increased the prices of its products by 10 percent yesterday.

Currently, a litre of petrol can be purchased at GH¢3.760 at GOIL while diesel is being sold at GH¢3.50

At Grace Oil filling stations, a litre of petrol is being sold at GH¢4.020 while diesel is being sold at GH¢3.770.

Some commuters, who spoke to BUSINESS GUIDE yesterday, condemned the intermittent increment in fuel prices in the country.

KwakuAttram, a passenger on a ‘trotro’ van travelling from Teshie, Tsuibleoo to Accra yesterday, said “the situation is making it difficult for people to plan since new prices are announced at unexpected times.

The cascading effect on transport fares and consumable goods is enormous, and life in Ghana is unbearable for the Ghanaian worker and the unemployed, he indicated.

Electricity and water tariffs have also been increased but salaries of workers remain unchanged.

By Samuel Boadi