fuel prices Archives - Page 3 of 5

18 Jul

Fuel Prices Go Up

wontumionlineBusinessfuel prices

There have been marginal fuel price hikes at major filling stations in the country. A visit to the pumps by 3news.com on Monday, July 17 showed that petrol prices have jumped from GH¢12.30 per litre to GH¢12.45 per litre. This is same for Diesel. Visits to Goil, TotalEnergies and Shell showed the latest price increases. There are reports that government is seeking to introduce new taxes on fuels in the mid-year budget review to be presented by the Finance Minister on Tuesday, July 25. This is set to see further increases in fuel prices. Some oil-marketing companies (OMCs) have attributed…

17 Jul

Inflation, Fuel Prices Are Holding Relatively Stable; Support Govt’s Recovery Efforts – Ahiagbah

wontumionlineBusinessfuel prices, Inflation

The Director of Communications for the New Patriotic Party (NPP) Richard Ahiagbah has said things are gradually getting better with the economy. He indicated that inflation rate is slowing, and prices of fuel have also stabilized. “4.2% first-quarter economic growth is 0.2% higher than the African Development Banks’ overall 4% projection for the 2023 & 2024 fiscal years, and 1.5% higher than the 2.7% global projection for the 2023 fiscal year. “Inflation and fuel prices are holding relatively stable showing that economic recovery is moving in the right direction. “We humbly appeal to Ghanaians to continue to support the government’s…

17 Mar

Drop In Fuel Prices Has Nothing To Do With Bawumia’s Gold-For-Oil – Minority

wontumionlineBusinessfuel prices, Gold For Oil, Minority in Parliament

Deputy Minority Leader Emmanuel Armah Kofi Buah has dismissed Vice President Dr Mahamudu Bawumia’s claim that fuel prices are reducing in Ghana due to the Gold-for-oil policy. He says the drop in the price of fuel has nothing to do with the policy Speaking in Parliament on Thursday, March 16, the Ellembelle MP said “There is nowhere in this world where we do barter trade for oil, somebody should tell me where you take your gold and then you take the oil, there is nowhere in this world. So there is nothing like gold for oil. “The Vice President is saying…

06 Feb

Regulation Of Fuel Prices Under Gold-For-Oil Only Short-Term – NPA

wontumionlineNewsfuel prices, National Petroleum Authority

The National Petroleum Authority (NPA), has clarified that the decision to regulate fuel prices under the gold for oil policy is only short-term and will be halted when large volumes of consignment arrive in the country. The Communications Manager of the NPA, Mohammed Abdul-Kudus, in an interview on the Citi Breakfast show on Monday explained that the decision is to ensure that the prices of petroleum products imported under the Gold-for-Oil (G4O) programme reflect at the pumps to benefit consumers. “Currently they are commingling, what it means is that they are taking from the G4O and what they take from the prevailing…

30 Jan

Fuel Prices To Increase By 7%-13% From February 1, 2023 – IES

wontumionlineBusinessCEDI, Diesel, fuel prices, Institute for Energy Security (IES), LPG, Petrol

The Institute for Energy Security (IES) is predicting between 7% and 13% jump in the prices of petrol, diesel and Liquefied Petroleum Gas (LPG), from February 1, 2023, for the next two weeks. This means petrol will sell at about ¢15 per litre, whilst diesel will go for over ¢17 per litre. According to the IES, the rise in domestic fuel prices, is due to the sharp depreciation of the cedi during the last two weeks and the rising international fuel prices as observed on the global S&P Platts platform. The energy think tank pointed out that the increase in…

20 Jan

Gold For Oil: BOST Begins Selling Of First Consignment Of Fuel

wontumionlineBusiness, Newsbank of ghana, BOST, Bulk Oil Storage and Transportation, fuel prices, Gold for Oil deal

JoyNews can confirm that the Bulk Oil Storage and Transportation Company (BOST) has today, Thursday, January 19 started selling petroleum products procured under the gold for oil barter arrangement. Reports indicate that GOIL and other Bulk Oil Distribution Companies have taken delivery of fuel for the market. However, what is being sold today is only 20 percent of Ghana’s market needs. The Bank of Ghana says consumers should not expect to see an immediate reduction in the price of petrol and diesel at the various fuel pumps. The Head of Financial markets at the Bank of Ghana, Stephen Opata disclosed…

15 Dec

We’ll Reduce Fares If Fuel Prices Come Down In The Next Pricing Window – GPRTU

wontumionlineNewsDiesel, fuel prices, GPRTU, Petroleum, Pricing window

The Ghana Private Road Transport Union (GPRTU), says it will reduce fares should the prices of fuel come down in the next pricing window. According to the Union, should that happen, they will not hesitate to reduce transport fares. However, what they will not do is to rush and reduce fares and be hit with hikes in fuel prices. The General Secretary of GPRTU, Mr Godfred Abulbire has said. According to him, a lot of considerations would have to be looked at before reducing transport fares. “For now, we will not rush and reduce fares, we need to observe things…

15 Dec

Disregard GPRTU’s Claim Of Increase In Prices Of Spare Parts – Abossey Okai Spare Parts Dealers Association

wontumionlineNewsAbossey Okai Spare Parts Dealers Association, fuel prices, GPRTU, transport fares, Transport Ministry

The Abossey Okai Spare Parts Dealers Association has denied the Ghana Private Road Transport Union’s (GPRTU) claim of increases in the prices of spare parts. The GPRTU after a slight reduction in fuel prices refused to reduce transport fares arguing that prices of spare parts and lubricants have also been increased. Thus, if transport fares are reduced, transport operators may suffer a loss in income. However, the Abossey Okai Spare Parts Dealers Association in a statement on December 15 said prices of spare parts have not been increased. “GPRTU instead of reducing the transport fares as a result of the…

14 Dec

Fuel Prices To Fall Significantly From December 16, 2022

wontumionlineBusinessfuel prices, OMCs

Prices of petroleum products are expected to fall significantly beginning this Friday, December 16, 2022, the Institute for Energy Security (IES) has projected. According to IES, the expected price drops would be significant due to the 6.60% appreciation of the cedi against the US dollar. It said the new prices will fall to about ¢13 and ¢16 per litre for petrol and diesel, whilst Liquefied Petroleum Gas will go for about ¢12 per kilogram. Even before that, some Oil Marketing Companies (OMCs) have begun reducing prices of petroleum products at the pumps. “With the continued price falls recorded on the…

12 Dec

Cedi Gaining, Fuel Prices Coming Down; The Govt Is Working – Owusu-Bempah

wontumionlineBusinessCEDI, Cedi appreciation, fuel prices

The Akufo-Addo administration is working around the clock to ameliorate the economic conditions Ghanaians are saddled with at the moment, a Deputy Communications Director of the New Patriotic Party (NPP) Ernest Owusu-Bempah has said. He noted that the efforts of the government have resulted in the Cedi gaining against the Dollar and drop in fuel prices. Addressing the press in Accra on Friday December 9, to react to the lost censure motion that was filed by the Minority for the removal of the Finance Minister Ken Ofori-Atta, Mr Owusu-Bempah said the government acknowledges the economic challenges Ghanaians are going through. “The…