Fuel prices increase again as OMCs sell petrol at GH¢17.99, diesel GH¢23.49

Consumers of petroleum products are expected to yet again pay more at various pumps across the country. The increment which takes effect from November 1, 2022, comes a few days after prices of petroleum products were adjusted in the second pricing window which kicked off October 31. Checks by GhanaWeb Business show that some Oil Marketing Companies (OMCs) are selling petrol at GH¢17.99 per litre while diesel is selling at GH¢23.49 per litre. As of Wednesday, October 26 2022, some OMCs were selling petrol at GH¢13.99 while diesel was going for GH¢15.99 per litre. Although there has been a stable price regime of crude oil being sold on the world market, the persistent depreciation of the cedi against the US Dollar has been attributed to the recent hikes. The significant hike in the price of petroleum has sparked renewed concerns for consumers amid soaring inflation rates which have culminated in the rising cost of living in the country. Meanwhile, the Ghana Private Road Transport Union (GPRTU) have commenced their decision to increase transport fares for commuters by 19 percent effective Saturday 29, 2022. This comes after the Union held extensive engagements with President Nana Addo Dankwa Akufo-Addo and other transport operators across the country. MA/FNOQ Watch the latest episode of BizTech below: