- In the first pricing window of February 2022, prices of fuel at local pumps increased significantly, rising above the Gh¢7.00 per litre mark for all major Oil Marketing Companies (OMCs).
- Some oil marketing companies have started adjusting the prices of petroleum products at the pumps upwards.
Members of the Private Commercial Transport Operators have served notice to the commuting public that it will increase transport fares by 30%.
The transport operators said their members should implement the directive from 18 February 2022.
“A gallon of fuel which used to sell at the pump for GHC27 cedis has now jumped to almost GHC36 cedis per gallon”, the group said.
The operators indicated that the move has become necessary to save their business from collapsing due to the frequent upward adjustments in fuel prices.
According to the group, “the government and the coalition of private commercial transport operators are still engaged in marathon negotiation for the increase in transport fares. While we the operators are calling for a 30% increase in transport fares, the government has put on the table 10%.
…as a result, the negotiation ended inconclusively and is expected to continue tomorrow, 18th February 2022”, the statement said.
Increase in fuel prices
Some oil marketing companies have started adjusting the prices of petroleum products at the pumps upwards.
For instance, Total leads with a litre of petrol and diesel selling at GHC7.99 pesewas. While GOIL is selling a litre of petrol and diesel at GHC7.30 pesewas.
Projected increase
The Institute of Energy Security (IES) earlier predicted that Oil Marketing Companies (OMCs) in the country are likely to push up the prices of petroleum products at the local pumps.
In the first pricing window of February 2022, prices of fuel at local pumps increased significantly, rising above GHC7.00 per litre for all major Oil Marketing Companies (OMCs).
According to the IES, consumers should brace themselves as the second pricing window of February 2022 will experience another push up in fuel prices.
The IES noted that the imminent increase in the prices of petroleum products is based on the further depreciation of the cedi and the increase in brent crude, gasoline and LPG.
Nicholas Brown
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