Government has announced a 15 to 20 per cent hikes in fuel prices. Per the new prices petrol will now be sold at GHS9.22 up from the previous GHS7 cedis. A statement signed by the Chief Executive of the National Petroleum Authority Alex Mould says the new prices will take effect from Sunday, February, 17, 2013. "The maximum indicative price for a litre of petrol will be GHS 2.0496 (GHS9.22 per gallon) and the maximum indicative prices for a litre of diesel will be GHS2.0683 will (GHS9.31 per gallon)" the statement said. Kerosene is also up by 15 per cent and will be selling at 104. 65 pesewas per litre. LPG is also up by 50 per cent and will be selling at 194.85 per litre or GHS24.36 per a 12.5 kg cylinder. The statement said the new prices are based on the crude oil price of $116 per barrel and an exchange rate of GHS1.89/USD. It the said the workout above indicates that government has maintained some subsidy on the prices of petroleum products.