As predicted by the Chamber of Petroleum Consumers, some oil marketing companies have started increasing the prices of petroleum prices as the second pricing window of August.
Total Energies has increased the price of petrol to GH¢13.50 per litre from GH¢12.95 per litre.
Diesel is also going for GH¢13.90 per litre from the previous price of GH¢12.95 per litre.
Goil has also increased the prices of petrol and diesel to GH¢13.50 and GH¢13.90 per litre respectively.
Other OMCs are expected to adjust their prices accordingly.
Earlier, the Chamber of Petroleum Consumers (COPEC) noted that there will be an increase in the prices of petroleum products.
According to the Executive Secretary of COPEC, Duncan Amoah, petrol and diesel may increase by 5.7%.
Currently, petrol and diesel are selling at GH¢12.95. COPEC added that the price of LPG will also increase to about 11.9% within the same period.
He said: “Indications are that Petrol and Diesel pump prices are likely to increase averagely by about 5.7% over the current mean price of GHS12.45/L across the country whilst LPG prices increase by about 11.9%.
“The following basic information forms the basis of projections for the coming window, that; prices of finished products on the international market have shot up by an average of around 11% for both petrol and diesel.”
He added that "Crude price has been increased by 6.79% from the mean price of $80.67/barrel to $86.15/barrel, even though the forex or Dollar exchange rate has relatively decreased from a previous average of GHS11.7185 to GHS11.4538 (-2.26%) per $1.”
Duncan Amoah added that petrol will be sold at GH¢12.97 per litre whiles diesel is expected to be sold at GH¢13.43 per litre.
Meanwhile, LPG is expected to be sold at GH¢12.30 per kg while the 14.5 kg LPG cylinder, is expected to be sold at GH¢178.36 within the window.
SSD/DAG
Watch the latest edition of BizTech and Biz Headlines below:
Fuel pump