As the second pricing window of August arrives, some oil marketing companies are raising petroleum prices, just as the Chamber of Petroleum Consumers predicted.
Total Energies has upped the price of petrol from ¢12.95 to ¢13.50 per litre. Diesel has also risen to ¢13.90 per litre from the previous ¢12.95.
Goil has similarly increased the prices of petrol and diesel to ¢13.50 and ¢13.90 per litre respectively.
Other oil marketing companies are expected to follow suit and adjust their prices.
Earlier, the Chamber of Petroleum Consumers (COPEC) had foreseen an increase in petroleum product prices.
COPEC’s Executive Secretary, Duncan Amoah, stated that petrol and diesel might go up by 5.7%.
Currently, petrol and diesel are being sold at GH¢12.95. COPEC further mentioned that the price of LPG will likely increase by about 11.9% during the same period.
He said: “Indications are that Petrol and Diesel pump prices are likely to increase averagely by about 5.7% over the current mean price of GHS12.45/L across the country whilst LPG prices increase by about 11.9%.
“The following basic information forms the basis of projections for the coming window, that; prices of finished products on the international market have shot up by an average of around 11% for both petrol and diesel.”
He added that “Crude price has been increased by 6.79% from the mean price of $80.67/barrel to $86.15/barrel, even though the forex or Dollar exchange rate has relatively decreased from a previous average of GHS11.7185 to GHS11.4538 (-2.26%) per $1.”
According to Duncan Amoah, gasoline would cost GH12.97 per liter, while diesel is anticipated to cost GH13.43 per liter.
While the 14.5 kg LPG cylinder is anticipated to be sold at GH 178.36 inside the window, LPG is anticipated to be sold at GH 12.30 per kg.