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Fuel Prices Go Up In Ghana Again, Check Details

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Fuel prices have gone up again in Ghana. Total Oil, on Sunday, January 16, 2022, has increased the price of diesel from 6cedis 85 pesewas to 7 cedis 05 pesewas.

Also, the price of petrol has seen a slight increase from 6cedis 80 pesewas as we use to buy it to now 6cedis 99pesewas.

When we are looking at the percentage increase, then the price of diesel has seen a percentage increase of 2.91 percent per liter of diesel at all Total Filling Stations in the country while petrol has seen a percentage increase of 2.79 percent per liter of petrol at all Total Filling Stations across the country.

However, the Chamber of Petroleum Consumers (COPEC) had earlier hinted that they expect the price of petrol to go up by 3.7% and also they expected the price of diesel to go up by 2.5%.

While explaining further, COPEC added that the ex-pump price of diesel was expected to increase by 17 pesewas and also the ex-pump price of petrol to also go up by 24 pesewas.

"The average surge for both products in nominal terms is 20 pesewas representing 3.1%. Some Oil Marketing Companies (OMCs) could increase their prices less than the 20 pesewas increase due to competition,” portions of a statement issued by COPEC on Monday, January 3, 2022, indicated.

The COPEC statement continued to explain further and give more reasons to the figures they were projecting a few weeks ago.

“Brent crude plunged by 10.7% to $73.45/barrel on the 26th November 2021 and the OPEC Reference Basket (OPB) plunged by 6.9% to $76.09/barrel on the same date.

“The OPB further tumbled to $70.07/barrel on 2nd December 2021. The plummeting crude oil prices were due to the new Omicron Variant new COVID-19 Omicron (B.1.1.529) variant which restricted mobility in some countries, and the expectation of gradual increment of oil production by Organisation of Petroleum Exporting Countries (OPEC)"

What is your take on the current fuel Price increase??

What message have you got for the Akufo-Addo government on the frequent fuel price increase?

Please don't forget to leave a comment below and share this article with others.

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