Fuel prices are expected to witness some marginal increase from Thursday July 1.
This is because of the rising price of crude oil on the international market, despite the cedi remaining relatively stable to the dollar.
It has culminated in a new price list from the Bulk oil Distribution Companies (BDCs) to the Oil Marketing Companies (OMCs), beginning Thursday.
The bulk distributors of the products are linking the increment to the rising price of finished products on the international market.
According to data obtained by Joy Business, a litre of diesel and petrol should be increased by just under 2%. This means a litre of petrol will be sold at ¢6.33. A gallon will also be sold at ¢28.48 for both petrol and diesel.
It is unclear whether the OMCs will absorb the expected price increment, which is very marginal.
Projections are that the price of fuel is expected to go up in the coming months if government does not provide any subsidy.
The present price buildup of fuel, is determined by the deregulation policy in 2015.
Fuel price up from the National Petroleum Authority
| PBU Effective 16th June 2021 (27th May 2021 - 11th June 2021 Averages) | Estimate for PBU Effective 1st July 2021 (12th June 2021 - 26th June 2021 Averages) | % Change |
FX Rate (Commercial Banks Average)(USD/GHS) | 5.8494 | 5.8687 | 0.33% |
Crude Oil (USD/BBL) | 70.45 | 74.27 | 5.42% |
Petrol (USD/MT) | 671.66 | 694.35 | 3.38% |
Gasoil (USD/MT) | 576.93 | 597.08 | 3.49% |
LPG (USD/MT) | 518.30 | 560.70 | 8.18% |
Jet/Kerosene (USD/MT) | 596.89 | 618.20 | 3.57% |
Fuel Oil (USD/MT) | 436.80 | 454.28 | 4.00% |
Latest Stories
-
You cannot soon make phone calls or drive your car when “dumsor” occurs
15 mins -
Ghana CCG Network unites voices to champion sustainable energy, transportation solutions
21 mins -
ETHAccra 2024 unites West Africa’s top innovators in blockchain development at University of Ghana
35 mins -
African journalists call for stronger protections and justice on International Day to End Impunity
39 mins -
Livestream: Newsfile discusses Bawku conflict, Supreme Court vs Speaker
41 mins -
TDC Ghana Limited reports GH¢54.94m profit before tax in 2023
1 hour -
Mahama is a threat to Ghana’s democracy, says Infomation Minister Fatimatu Abubakar
2 hours -
Harris and Cardi B go deep on the economy in Wisconsin
4 hours -
US Election: How the economic policies of Harris and Trump differ
4 hours -
It’s a lie, we are not printing excess ballots beyond agreed numbers – EC
5 hours -
Let us consider the future of Ghana and vote for visionary Bawumia – Queenmother of Bechem
6 hours -
CSIR-SARI showcases stress-tolerant, hybrid maize to farmers
6 hours -
World Stroke Day 2024: Collective Action needed for stroke prevention and treatment
6 hours -
EC urged to ensure timely release of information to combat misinformation
6 hours -
40th Farmers’ Day celebration scheduled for November 8, 2024
7 hours