Consumers of petroleum products should experience another increase even before the second pricing window opens on Sunday, October 30, 2022.
According to investigations by GhanaWeb Business, several oil marketing companies have raised the cost of gasoline and diesel by roughly 10%.
Although crude oil prices have remained constant on the international market, certain OMCs in Ghana have started to modify fuel prices.
For instance, whereas Petrosol and Engen sell gasoline for GH17.48 pesewas per litre and GH17.54 pesewas, respectively, GOIL and TotalEnergies sell it for GH13.99 per litre.
Petrosol and Engen are charging GH19.89 and GH19.44 respectively for a litre of diesel.
Consumers’ anxieties have been rekindled by the petroleum price’s relatively large increase. Since then, the trend has been blamed on the cedi’s ongoing fall against the US dollar.
Additionally, according to reports, the decision forced several OMCs to modify their prices before the normally scheduled biweekly review of petroleum product prices.
On October 26, the Ghana Private Road Transport Union (GPRTU) announced their decision to raise passenger transportation costs by 19% beginning on Saturday, October 29, 2022.
The Union undertook thorough discussions with President Nana Addo Dankwa Akufo-Addo and other transportation providers around the nation before making its decision.