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More oil marketing firms are expected to increase their prices at the pumps
Wed, 5 Jun 2024
Source: Joy Business
Oil marketing companies in Ghana have started increasing petroleum product prices at the pumps.
Shell now sells petrol and diesel at GH₵14.84 per litre, while market leader GOIL has raised petrol to GH₵14.60 and diesel to GH₵14.75 per litre.
The price hikes are attributed to a GH₵0.05 increase in the Unified Petroleum Price Fund (UPPF) margin, mandated by the National Petroleum Authority starting June 1, 2024. Analysts question the rationale, noting falling crude oil prices and a stable cedi should lower pump prices.
The impact on transport fares remains uncertain as more firms are expected to adjust prices.
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Source: Joy Business