Here's how some major Oil Marketing Companies have adjusted fuel prices

• Price of petroleum products have been increasing throughout the year

• Price of diesel and petrol are selling at GH¢6.80 per litre at some pumps

• The implementation of the PSRL is expected to take effect in November

The issue of fuel price increment ultimately affects the cost of goods and service delivery.

While the global oil market has been facing a number of demand and supply disruptions as a result of the coronavirus pandemic and inflation risks, the prices of petroleum products have been surging in recent weeks and months.

Back home in Ghana, prices of petroleum products have increased almost 13 times since the beginning of this year. This has sparked fears that consumers may end the year, paying an all-time high rate per litre.

To mitigate the impact of petroleum price build-up on consumers, government through the National Petroleum Authority (NPA) on October 11, 2021, granted approval for the removal of Price Stabilisation and Recovery Levy on petrol, diesel, and LPG for two months.

Meanwhile, some experts in the petroleum sector have called on the government to rather remove a number of additional petroleum taxes in order to ensure price stability and cushion consumers.

Beginning October 16, 2021, prices of petrol and diesel increased in the second pricing window of October and is selling at GH¢6.80 per litre at some pumps in the country.

Leading Oil Marketing Company, TOTAL led the pack with the price increase selling its petrol and diesel at GH¢6.80 while other OMCs waited until Friday October 21, 2021 to adjust their prices.

Here is a breakdown of the price increment across major oil marketing companies in the country

NB: These price adjustments took effect from Friday October 21, 2021.

PETROL / DIESEL

TOTAL: GH¢6.80 - GH¢6.80

GOIL: GH¢6.80 - GH¢6.80

SHELL: GH¢6.80 - GH¢6.80

ALLIED: GH¢6.75 - GH¢6.75

PETROSOL: GH¢6.44 - GH¢6.44

PUMA ENERGY: GH¢6.78 - GH¢6.78

FRIMPS OIL: GH¢6.44 - GH¢6.44