The prices of fuel and other petroleum products are expected to increase again this week. This comes as unpleasant news for many Ghanaians who are battling with a high cost of goods and services as well as transportation.
According to George Wiafe of Joy FM, data secured from the Bulk Oil Distribution Companies, indicates Petrol which currently selling at around 10 cedis 10 pesewas per liter is expected to be increased by 12.88 percent. While Diesel which is being sold at around 12 cedis 20 pesewas per liter would be increased by 11.14 percent per liter.
However, some industry watchers have argued that due to competition and moves by the Oil Marketing Companies to engage the Bulk Oil Distribution firms for some price reduction, it is likely that we might not witness the projected price increase at the pumps by this Weekend.
Prices of fuel have almost doubled from GHC6.5 per liter in January 2022 to GHC10.10 (projected GHC11.5 after the impending increase) in June 2022. If this trend continues, then petrol will be selling at around GHC 20 per liter by December 2022
It is still imperative that we prepare for the increase latest sometime early next week since the increase in prices seems inevitable. Transport fares and prices of goods and services are expected to be affected accordingly.
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