OMCs adjust fuel prices by 10% ahead of second pricing window for October

Consumers of petroleum products are expected to experience another increment even before the second pricing window kicks off on Sunday, October 30, 2022. Checks by GhanaWeb Business show that some Oil Marketing Companies have increased prices of petrol and diesel by about 10 percent. Although there has been a stable price regime of crude oil being sold on the world market, some OMCs in Ghana have begun making fuel price adjustments. For instance, GOIL and TotalEnergies are selling petrol at GH¢13.99 per litre while Petrosol and Engen are selling petrol for GH¢17.48 pesewas per litre and GH¢17.54 pesewas respectively. For a litre of diesel, Petrosol and Engen are selling at GH¢19.89 pesewas and GH¢19.44 pesewas respectively. The rather significant hike in the price of petroleum has sparked renewed concerns for consumers. The development has since been attributed to the persistent depreciation of the cedi against the US Dollar. Also, the move is reported to have forced some OMCs to make price adjustments ahead of the regular bi-weekly review of the price of petroleum products. Meanwhile, the Ghana Private Road Transport Union (GPRTU) on October 26, announced their decision to increase transport fares for commuters by 19 percent effective Saturday 29, 2022. The decision 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: