Some Oil Market Companies have started increasing prices of petroleum products at the pumps.
TotalEnergies has increased the price of petrol to ¢13.50 per litre from ¢12.45 per litre at the beginning of the month.
Diesel is also going for ¢13.90 per litre from the previous price of ¢12.45 per litre.
Goil has also increased prices petrol to ¢3.50 and diesel to ¢13.90 per litre.
The rest of the OMCs are expected to also adjust prices today August 16, 2023.
Earlier, the Chamber of Petroleum Consumers (COPEC) announced that fuel prices will see an increase of about 5.7% in the second pricing window of August.
A statement signed by the Executive Secretary, Duncan Amoah, said the change is as a result of increased in prices of finished products on the international market by averagely around 11% for both petrol and diesel.
It added that crude price has also 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 ¢11.7185 to ¢11.4538 (-2.26%) per $1.
Petrol
The statement explained with the international price increasing from $898.55/MT to $965.58/MT (7.46%), the retail price works up to GH₵12.97/L
Thus, Petrol is expected to increase by 4.37% of the current mean Pump retail price of GH₵12.40/L, to close selling between GH₵12.32/L and GH₵13.62/L within ±5% of COPEC’s prediction.
LPG
With the international benchmark price increasing from $423.75 metric tonne to $547.79 metric tonne (29.27%), the projected retail price of LPG is expected to be selling averagely at ¢12.30 per kilogramme.
Thus, within ±5% error, LPG is expected to be sold between ¢11.69/kg and ¢12.92 per kilogramme.
Latest Stories
-
Joe Lartey Sr: A voice that brought life to Ghana sports and beyond
25 mins -
Australians call for tougher laws on violence against women after killings
2 hours -
African Development Council establishes mission in Benin for Francophone countries
3 hours -
Okyeame Kwame reveals his secret to longevity in music industry
3 hours -
Youthful-looking 60-year-old woman qualifies for Miss Argentina contest
3 hours -
Ejisu By-Election: Campaign heats up as NPP holds final rally ahead of Polls on Tuesday
3 hours -
Rwanda plan: Irish government wants to send asylum seekers back to UK
3 hours -
Ice cubes now cost more than bread and milk in parts of Mali
5 hours -
Titanic gold pocket watch sells for £900,000
6 hours -
Elon Musk in China to discuss enabling full self driving – reports
6 hours -
Foreign Affairs Ministry advises against travelling to Northern Mali
6 hours -
After dating him for three years, I proposed to my husband
6 hours -
Beatrice ‘Bee’ Arthur tackles plastic pollution through artistic exploration
7 hours -
Hundreds turn out for Luv FM/Telecel Fitness Walk in Kumasi
7 hours -
Ghana Post launches Asantehene Commemorative Stamp
7 hours