Audio By Carbonatix
Prices of petroleum products are likely to go up soon to reflect increases in the price of crude oil on the world market.
The price of the commodity has stayed above the 80-dollar a barrel mark for some time now. It is trading today at 84 dollars with analysts projecting a further increase in the coming weeks.
The National Petroleum Authority under the current deregulated regime reviews prices every two weeks. No such review has however reflected at the pumps for a while now.
Joy Business has learnt this is partly because of a government subsidy of about 10 million Ghana cedis over the past few months supported by funds accumulated to the NPA from the controversial price differential levy.
The impending price increase has however become necessary because the deficit in petroleum funding is getting out of hand.
Sources close to Joy Business indicate that pump prices may go up by some 10 per cent.
Source: Joy Business/Ghana
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Dr Abu Sakara urges African youth to lead economic freedom
33 seconds -
24-Hour Economy mobilises GH¢1bn for poultry value-chain transformation
7 minutes -
From working in his room to building a business group – Michael Bartlett-Vanderpuye’s journey
8 minutes -
SOEs dividend contributions fall 45.5% in 2025- Report
15 minutes -
DBG steps up textile industry financing with new investor-ready projects
19 minutes -
GPL: Hearts make emphatic winning start, Debibi United hold Kotoko
21 minutes -
Middle East conflict disrupts Ghana’s gold exports as first-half volumes dip
38 minutes -
BoG to roll out crypto guidelines soon, clear path for licensing – Asiama
54 minutes -
DBG lines up textile deals for credit approval, disbursement before year-end
1 hour -
DBG channels billions into businesses private banks struggle to finance
1 hour -
Provident Insurance’s Ellen Amihere named Claims Professional of the Year
2 hours -
Kenya’s president orders Tata Chemicals to end operations in the country
2 hours -
Nigeria’s SEC approves about $1.6bn Dangote Refinery IPO
2 hours -
Gold eases as robust US payrolls boost rate-hike bets; inflation data in focus
2 hours -
Nigeria’s Dangote says refinery IPO to open within days
2 hours