Fuel prices to increase by over GHC 1 per litre

It seems the troubles of fuel purchasers are not yet finished, as the cost of the ware is tipped to increment by around 12% for the following valuing window of June.

This would imply that the typical cost of fuel is probably going to increase by about GH¢1.33 per liter.

While petroleum costs are projected to go up by GH¢1.24/liter which is a 11.41% increment, the cost of diesel might increment by GH¢1.43/liter portraying a 12.93% expansion.

The most recent public statement by the Chamber of Petroleum Consumers Ghana (COPEC), made sense of what is representing the expected cost climbs

“Current Crude prices are at $124.96/barrel, resulting in processed Petroleum Products of $1,451.25/MT of Petrol and $1,289.97/MT for Diesel, coupled with further depreciation of the exchange rate of $1:GH¢8.0483 and the government’s applicable tax rebate of 15 pesewas per litre still in place till the end of June 2022”.

The average price of petrol and diesel at the pumps currently stands at GH¢12.282 after selling at about GH¢6.5 in January.

This was after petrol and diesel crossed the GH¢10 and GH¢12 per litre marks this month.

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