Fuel prices go up for the second time in November

Goil increases fuel prices to GH¢6.99

Fuel price increases are due to increasing prices of crude oil

Transport operators lament increased prices

Some major OMCs (Oil Marketing Companies) have increased fuel prices at the pumps.

Goil has taken the lead, selling a liter of diesel and petrol at GH¢6.99 from a previous GH¢6.90 per liter

The upward adjustment is a result of rising crude oil prices on the international market. The price of crude oil is presently going for about $82 on the world market.

It could have even been higher than the 1.47% increment if the Price Stabilization and Recovery Levy (PSRL) had not been suspended on fuel prices for the next two months. This has resulted in a liter of diesel and petrol going down by 14 pesewas and 16 pesewas per liter respectively.

However, some OMCs, largely the smaller ones have also cut their prices slightly.

Transport operators have lamented the increasing rate of fuel prices this year, saying this could result in the upward adjustment of transport fares.