OMCs start increasing fuel prices; Goil selling a liter of petrol, diesel for ¢12.45
NEWS
OMCs start increasing fuel prices; Goil selling a liter of petrol, diesel for ¢12.45
SOURCE: Reporting Oil and Gas | Editor POSTED ON: June 2, 2023
June 2, 2023 CATEGORY: NEWS
Some Oil Marketing Companies (OMCs) have started increasing
the prices of petroleum products at the pumps.
Goil has led the way, increasing the price of a liter of
petrol and diesel to ¢12.45 pesewas from its previous price of ¢12.30 pesewas
per liter.
The increase is in line with the biweekly review of prices
at the pumps.
According to some stakeholders, the latest increase is due
to the performance of the cedi and the price of crude oil on the international
market.
It is expected that more OMCs will also adjust prices upward
later today.
IES prediction
The Institute for Energy Security (IES) earlier on predicted
that prices of petrol and diesel may remain unchanged.
The institute however predicted that the price of Liquefied
Petroleum Gas (LPG) may decline by about 5% during the same period.
“The Institute for
Energy Security’s (IES’) review of prices over the past two weeks as monitored
by Global Standard & Poor (S&P) Platts platform indicate the prices of
Gasoline [petrol] and Gasoil [diesel] have increased at 4.20% and 2.70%
respectively whereas Liquefied Petroleum Gas (LPG) decreased by 5.80%”.
“The Ghana cedi also gained 5.42% against the U.S dollar
over the two weeks trading period on domestic forex market”, it added.