Fuel prices set to go up

The Chamber of Petroleum Consumers, Ghana has predicted a hike in fuel prices at the next petroleum pricing window on Monday, May 1.

The Chamber says the prices will go up by between 5 per cent and 10 per cent.

“The latest increases which the industry largely attributes to further rise on benchmarks on the world market comes at the back of a stay in prices this current window as was stimulated by Goil,” the Chamber said in a statement issued on Thursday, April 28.

The Chamber in the statement asked government to put in place a dual petroleum pricing policy to allow waiver on taxes when world market prices increase.

“World markets have seen an adjustment of some $6/barrel moving from below $40/barrel over the last window to above $46/barrel as of trading today the 28th of April.”

It also asked all flagbearers “to as a matter of policy state their petroleum management positions on both downstream and upstream operations to the benefit of the average Ghanaian”.