Petroleum prices goes up again

Accra (Greater Accra) 1st July 99 - The Bulk Oil Storage and Transportation Company Limited (BOST) today announced increases in the wholesale prices of some petroleum products to take effect from today, Thursday, 1st July.

A statement issued by BOST on Wednesday gave the new wholesale ex-pump price of Premium Gasoline as ? 870.00 per litre as against ? 855.00 per litre previously. Liquified petroleum gas goes up to s ?970.00 a kilogramme from ? 920.00 a kilogramme.

The price of kerosene was remained at ? 600.00 a litre while that of gas oil was reduced from ? 810.00 litre compared to ? 822.23 a litre before. The new prices were made to reflect the trends in 'import parity' prices for petroleum products as monitored by the National Petroleum Tender Board (NPTB) from 21 May to 20 June, the statement said. The new prices also incorporate levies and duties imposed on the sale of petroleum products, in line with the Customs and Excise Act of 1998. The statement said during the period under review, the price of a barrel of crude oil continued to increase.

It said the prices reflect changes in the Cedi exchange rates over the past month resulting in the ex-pump prices of gasoline being increased by 1.7% and gas oil being reduced by 1.5% of existing prices. Two months ago BOST announced an across board increase of all petroleum products that has led to increases in the prices of foods stuffs and goods. The latest measure is likely to follow the same trend.