Petrol prices up tomorrow

Audio By Carbonatix

Prices of petroleum prices may go up by some 17 per cent tomorrow if the Oil Marketing Companies(OMC) should have their way.

Government is however pushing for a 10 per cent hikes barely two weeks after prices of the products were increased by some four per cent.

The hikes are as a result of the continued depreciation of the country's currency.

The OMCs say they need more cedis to buy the same amount of products from the market hence the need to adjust prices.

Joy Business has learnt that due to the ongoing price deregulation policy currently underway the various OMCs will announce different per centage hike in the products.

The National Petroleum Authority has said it will monitor the implementation of the price deregulation policy by the OMCs inorder to ensure that they do not abuse the process.

It is not clear yet what per centage each of the OMCs will be charging.

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