Fuel prices go up again

Accra (Greater Accra) 30th Sept. '99

The Bulk Oil Storage and Transportation Company Limited (BOST) on Thursday announced increases in the ex-pump prices of petroleum products by up to 11.9 per cent with effect from Friday, October one, citing world market trends. This is the second time in less than four weeks that the BOST has announced fuel price hikes, following a chain of general adjustments since the beginning of this year.

A statement signed by Dr. Kwabena Donkor, General Manager of BOST, said the new price for premium petrol would be 1,070 cedis per litre, up 10.3 per cent from the previous price of 970 cedis per litre. Kerosene would now sell at 750 cedis per litre, reflecting 11.9 per cent increase over the existing price of 670 cedis while gas oil would be sold at 1,000 cedis per litre, up 9.89 per cent from 910 cedis. Liquefied Petroleum Gas will now sell at 1,200 cedis per kilogramme, up 11.11 per cent from the existing price of 1,080 cedis per kilogramme. The statement said the National Petroleum Tender Board (NPTB) had to review the prices to reflect the trends in "import parity" as monitored for the period between August 21 and September 20, this year. "There has been no change in taxes, levies and margins of the Oil Marketing Companies," it stated. The statement quoted the wholesale prices for the products as 947.96 cedis per litre for Premium petrol, 627.99 cedis per litre for Kerosene, 877.97 cedis per litre for gas oil and 925 cedis per kilogramme for L.P Gas.