Fuel prices expected to go up by 11% on Thursday
Fuel prices are expected to go up by 11% according to a publication on joy online. The biggest increment is yet to be experienced by 16, June 2022. According to the data, Ghanaians should expect this as a result of factors that are pushing the price in the world market.
Information secured from Bulk Oil Distribution Companies (BODCs) indicates that diesel is expected to gallop by 11% and petrol is likely to also go up by 13%.
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In Ghana, the current price of petrol is Ghc12.20 and diesel is sold at Ghc10.10. When the new price takes effect by Thursday, it will also affect the transport fares to rise. Another effect may be on the inflation which is now around 27% using the month of May 2022.
It is clear that the price of crude oil is relatively stable in the international market but the refinery cost is shooting up which is also affecting the prices we are all experiencing today.
From the look at what is happening, the Oil Marketing Companies (OMC), there will be an upward adjustment of market prices to the consumers. Though there are negotiations for the OMCs to consider the increment, no one knows the outcome yet.
We all hope to see the margin decrease in order not to affect the said price increment hi on Thursday. Ghanaians are now wailing about how this may affect the prices of goods and services already on a price surge.
Food prices and transportation will likely increase again if this high percentage fuel increase takes effect.
Source: Read