fuel prices Archives - Page 4 of 5

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…

29 Nov

Petrol, Diesel Prices To Go Down By 10% – IES

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Prices of petrol and diesel are expected to go down between 10% and 8% from Thursday, December 1, 2022, the Institute for Energy Security has projected. The price of Liquefied Petroleum Gas (LPG), however, is expected to remain stable on account of the cedi’s depreciation. This will be the second consecutive period that prices of petrol and diesel will be going down. “Prices of the various finished products will be affected by the 13.45% fall in the price of gasoline [petrol], the 11.63% fall in the price of gasoil [diesel], and the 1.88% fall in the price of LPG. However,…

09 Nov

Fuel Prices To Be Reduced Next Week – COPEC

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The Chamber of Petroleum Consumers (COPEC) has announced that fuel prices are likely to be reduced by Monday, November 14, 2022. There has been a recent hike in fuel prices, including diesel and petrol. Diesel is currently selling for more than GH¢23, while the price of petrol is hovering around GH¢18. But speaking to Roselyn Felli on Prime Morning, on Wednesday, the Executive Secretary of the Chamber, Duncan Amoah, indicated that measures are being put in place to help subsidise the rising prices. “We will be expecting diesel to drop from GH¢23 to somewhere around GH¢21.19, and the petrol will also…

04 Nov

Patronage Of Train Services In Accra On The Rise Due To Fuel Price Increase

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The Ghana Railway Company Limited says patronage of its services has shot up significantly since fuel prices and transport fares started surging. Currently, petrol and diesel prices are being sold at an average of ¢18 and ¢23 per litre, from the previous prices of ¢15 and ¢19 per litre respectively. Energy Analysts have predicted a bleak predicament for Ghanaians as they expect a further increment in the next pricing window. Ghanaians have already initiated alternatives to escape from the high transportation fares by opting for the use of train. According to the Ghana Railway Company, passenger numbers have doubled in…

03 Nov

Cheap Fuel: I’m Unaware Of Any Company Ready To Sell Below Market Price Unless… – ACEP Boss

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The Executive Director of the African Centre Energy Policy (ACEP), Benjamin Boakye has said regarding the government’s search for cheap fuel, that he is not aware of any company or government that is ready to sell fuel below the market prices unless there is something to gain for it. To that end, he said, the government must be pushed to explain the discount that the country will be getting from the companies that are being engaged. President Nana Addo Dankwa Akufo-Addo announced in his address on Sunday October 30 that the government was working to secure reliable and regular sources of affordable…

02 Nov

NPA Removes Subsidy On Residual Fuel Oil

wontumionlineBusinessfuel prices

The National Petroleum Authority (NPA) has announced to the general public, particularly stakeholders in the oil marketing sector, that the subsidy on residual fuel oil (RFO) has been suspended. “The suspension of the policy to subsidise RFO is in line with the directive from the Ministry of Energy as an interim measure to ease the financial burden on the Price Stabilisation and Recovery Account (PSRA),” a statement issued by the Chief Executive of the Authority, Dr Mustapha Abdul-Hamid, said. The decision took effect from Tuesday, November 1. “The policy directive takes into consideration the growing concern about the sustainability of the Account…

01 Nov

Fuel Prices Up Again As Diesel Hits GH¢23.49 Per Litre

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Ghanaians will have to spend more on fuel as prices of such products have gone up again. The price of diesel has shot up to GH¢23.49 per litre, according to latest prices advertised by TotalEnergies at the pumps. Petrol is selling at GH¢17.99 per litre, while Kerosene is selling at GH¢14.70. The new prices took effect from Tuesday, November 1, 2022. The Institute for Energy Security (IES) had predicted that petrol and diesel prices will hit GH¢18 and ¢20 per litre for the November 2022 first pricing window. The IES, however, noted that, unfortunately, the 1.43% fall in the price…

18 Oct

Fuel Prices To Hit GHS18/litre In December If Government Doesn’t Intervene – COPEC

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If steps are not taken to curb the rampant increase in the prices of fuel at the country’s filling stations, the Chamber of Petroleum Consumers Ghana (COPEC) predicts that fuel prices could reach GHS18 per litre by the end of the year. ‘We are now hitting GHS15 per litre for fuel,’ according to Duncan Amoah, Executive Secretary of the Chamber of Petroleum Consumers Ghana (COPEC), who was speaking to Citi Business News. ‘The cedi has undoubtedly not reached a point of stability, and if it keeps falling, a further increase is expected to occur in the first week of November. Between…

18 Oct

Fuel Prices Jump To Almost GHS16/litre

wontumionlineBusinessfuel, fuel prices

Over the weekend, fuel prices have shot up to almost GHS16 per litre at some stations in the country. At a leading Oil Marketing Company, Total Energies, for instance, the price of Diesel now stands at GHS15.99 while petrol sells for GHS13.10. This is a sharp rise from the GHS11.06 per litre for petrol and GHS13.95 per litre for diesel earlier in the month. The rampant increase in the price of fuel in the country which started off in January at about GHS6.5 per litre has been attributed mainly to the rise in the cost of the commodity on the…

15 Sep

Prices At The Pumps To Fall Marginally – IES

wontumionlineBusinessfuel, fuel prices

The Institute of Energy Security (IES) is projecting a slight reduction in fuel prices in the coming days. This is despite an almost 11 per cent drop in prices on the world market. The about 3.6 per cent depreciation of the cedi against the dollar has however thwarted any significant drop in prices at the pumps. The price of Petrol is currently at GHS11.55 a litre while Diesel is at Ghc14.50 per litre. These are despite the commodity starting the year at about GHS6.5 per litre. Similarly, the dollar is currently trading at over GHS10 when it sold for about…