fuel prices

Global Oil Prices Drop, But Cedi Depreciation Keeps Fuel Prices High
17 Feb

Global Oil Prices Drop, But Cedi Depreciation Keeps Fuel Prices High

CUD Wontumi0 CommentsBusiness,
Consumers are facing mixed outcomes at the pumps as global fuel prices decline, but the depreciation of the local currency could undermine potential relief. Despite a steady drop in Brent crude prices and refined petroleum product costs on the international market, the Ghanaian Cedi’s 2.18% fall against the U.S. Dollar is keeping fuel prices volatile. According to a press release by the Institute for Energy Security (IES), the first pricing window of February 2025 saw an increase in fuel prices in Ghana for the third time this year. Gasoil rose by GH₵0.45 per litre, while gasoline increased by GH₵0.24 per…
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Fuel Prices Increase
04 Dec

Fuel Prices Increase

wontumionlineBusiness
There has been a marginal increase in fuel prices by some Oil Marketing Companies (OMCs) in the first pricing window of December. The upward adjustment in fuel prices is evident in the sale of both petrol and diesel at various pumps on Wednesday, December 4, 2024. Shell is currently selling diesel at GH¢15.72 per litre and petrol at GH¢14.99 per litre. In November, these petroleum products were sold at GH₵14.82 for petrol and GH₵15.66 for diesel. It would be recalled that last month, the Chamber of Petroleum Consumers (COPEC) projected a decrease in fuel prices in the second pricing window,…
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Prices Of Petrol Go Down At The Pumps
19 Nov

Prices Of Petrol Go Down At The Pumps

wontumionlineBusiness
Some Oil Marketing Companies (OMCs) have begun the reduction of fuel prices as the second pricing window of November begins. GOIL took the lead on November 18 to reduce the prices of petrol at the various pumps. The price of petrol has reduced from GHȼ14.64 per litre to GHȼ 14.35 per litre. Diesel prices, on the other hand, remain unchanged and are selling at GHȼ15.45 per litre. StarOil is selling petrol at GHȼ13.99 and diesel at GHȼ14.99. Allied is selling a litre of petrol at GHȼ13.95 and diesel at GHȼ14.95. Other OMCs are expected to reduce their prices as well.…
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Fuel Prices May Reduce From September 16 – AOMC
10 Sep

Fuel Prices May Reduce From September 16 – AOMC

wontumionlineBusiness
The Chief Executive of the Association of Oil Marketing Companies (AOMC), Dr. Riverson Oppong, has projected a price reduction in petroleum products at various pumps from September 16, 2024. He asserted that oil marketing companies will consider various factors, including the performance of the cedi, when reviewing the prices of petroleum products. Speaking on JoyNews' PM Express, monitored by GhanaWeb Business, Dr. Oppong said, “All the variables that influence prices of petroleum products have been fairly stable over the past week, and if that is sustained going forward, then there should be a reduction in prices at the pumps." “There is always…
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Fuel Prices To Fall Between 2% And 4% In Coming Days – IES
31 Jul

Fuel Prices To Fall Between 2% And 4% In Coming Days – IES

wontumionlineBusiness,
The prices of petroleum products are expected to fall between 2% and 4% for petrol, diesel, and Liquefied Petroleum Gas, beginning tomorrow August 1, 2024. This follows the slowdown in the depreciation of the Ghana cedi during the second half of July 2024 and the favourable international market dynamics. According to the Institute for Energy Security (IES), the price of petrol and deisel fell by 2.99% and 4.59% respectively and LPG by 1.10% in the second half of July 2024. “Precisely, the price of gasoline [petrol] fell by 2.99%, gasoil [diesel] by 4.59%, and LPG by 1.10% in the second…
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Fuel Prices Cross GH¢15 Per Litre At The Pumps
16 Jul

Fuel Prices Cross GH¢15 Per Litre At The Pumps

wontumionlineBusiness
Some Oil Marketing Companies (OMCs) across the country have started to increase their prices for petroleum products at the pumps as the second pricing window for July has begun. This means that petroleum consumers are expected to pay more for various products effective July 16, 2024. Checks by GhanaWeb Business showed that leading oil marketing companies such as Shell have raised the price of a litre of petrol from GH¢14.80 to GH¢15.10. Similarly, the price of a litre of diesel has gone up from GH¢14.92 to GH¢15.25. In the coming days and hours, it is expected that more OMCs operating in the…
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Fuel Prices Set To Increase By 4% On July 16 – COPEC
15 Jul

Fuel Prices Set To Increase By 4% On July 16 – COPEC

wontumionlineBusiness,
The prices of petrol, diesel, and LPG will all see a 4% rise starting on Tuesday, July 16, 2024, as announced by the Chamber of Petroleum Consumers (COPEC). Duncan Amoah, the Executive Secretary of COPEC, attributed this increase in prices to changes in global petroleum Free on Board (FOB) prices and the depreciation of the local currency. Currently, the Cedi is selling at GH¢15.66 to $1 and GH¢20.27 for £1 at various forex bureaus. Previously, petrol was priced at GH¢14.795 per litre, while diesel was GH¢15.332 per litre at various pumps. The mean price for petrol and diesel from Tuesday…
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Fuel Prices Expected To Go Up
04 Jun

Fuel Prices Expected To Go Up

wontumionlineBusiness
The National Petroleum Authority (NPA) has directed the various industry players to increase the Unified Petroleum Price Fund (UPPF) margin by GH₵0.05 on every litre in the Price Build Up for petroleum products from June 1, 2024. By this, consumers are likely to pay more for petroleum products in the coming days. The NPA explained that the revision of the margin is necessary to ensure sustainability of the fund for efficient distribution of petroleum products across the country. The directive was contained in a circular issued on May 30, 2024 and seen by JOYBUSINESS. Based on the directive, the margin on…
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Fuel Prices To Go Up In First Half Of June 2024 – IES Predicts
29 May

Fuel Prices To Go Up In First Half Of June 2024 – IES Predicts

wontumionlineBusiness
Fuel prices are expected to increase again in the first half of June 2024, the Institute for Energy Security (IES) has predicted. This is according to developments in the foreign fuel and domestic forex markets, as the Cedi’s performance worsens. “Gasoline [petrol], Gasoil [diesel], and Liquefied Petroleum Gas (LPG) all recorded a decrease of about 4.17%, 0.87%, and 3.44%, respectively over the last two weeks. Given the favourable price changes recorded on the international market for these products, prices at the local pumps should ordinarily reflect a reduction to relieve consumers. However, the massive fall (4.17%) of the Ghana cedi…
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Petrol, Diesel Prices To Remain Same; LPG To Go Up 4% – IES
18 Mar

Petrol, Diesel Prices To Remain Same; LPG To Go Up 4% – IES

wontumionlineBusiness
The prices of petrol and diesel are expected to stay the same for the next two weeks, the Institute for Energy Security has revealed. However, that of Liquefied Petroleum Gas (LPG) will go up by about 4%. Though the prices of finished products of petrol and diesel on the international market fell by 4.06% and 0.24% respectively during the past two weeks, the Ghana cedi continued to record a depreciation of about 1.09% during the period. “Following the recent changes on the international market with Gasoil [petrol] and Gasoline [diesel], prices falling by 4.06% and 0.24%, while Liquefied Petroleum Gas…
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