Some Oil Marketing Companies (OMCs) have began increasing prices of petroleum products at the pumps.
Goil has taken the lead, selling at litre of diesel and petrol at ¢12.45 from its previous price of ¢12.30 a litre.
The increase is in line with the biweekly review of prices at the pumps.
The latest increase, according to some stakeholders is due to the cedi’s performance and the price of crude oil on the international market.
It is expected that more OMCs will also adjust prices of petroleum products upward later today, June 1, 2023.
IES prediction
Earlier, the Institute for Energy Security (IES), 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 [ptrol] 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.
Latest Stories
-
X says its return in Brazil after ban ‘inadvertant’
21 mins -
I’ll give you accessible and quality leadership – Prof Titus assures Lambusie constituency
3 hours -
UCL: Gazzaniga howler sees Girona lose to PSG
3 hours -
UCL: Dortmund start new campaign with 03 win over Club Brugge
4 hours -
UCL: Man City, Inter play out goalless draw at Etihad
4 hours -
Major US labour union declines to endorse either Harris or Trump
4 hours -
Nigeria flags flood risk in 11 states as Cameroon releases dam water
4 hours -
Trump on Fed’s actions: ‘It was a big cut’
5 hours -
Independent presidential aspirant Dr. Sam Ankrah vows to mechanise agriculture if elected
5 hours -
We don’t have to sell ECG; let’s take out political interference – John Jinapor
5 hours -
Government to spend $7.65bn to complete Agenda 111 projects – Health Minister
5 hours -
Visa window for some World Cup visitors is closing, US travel group says
5 hours -
Privatisation of ECG will be an admission of failure – PURC
6 hours -
Bawumia promises mini harbour, sea defense for Sege
6 hours -
Constant venue change negatively affects Ghana Premier League – Prosper Ogum
6 hours