Some fuel retailers have begun to hike their prices at the pumps. The first to do so was Goil, a state-owned downstream company in Ghana.
It increased the price of petrol and diesel from ¢12.30 to ¢12.45 per litre. The price adjustment follows the biweekly review of the fuel market.
According to some experts, the rise in prices is due to the cedi’s performance and the global crude oil price. More fuel retailers are expected to follow suit and raise their prices later today, June 1, 2023.
IES prediction Previously, the Institute for Energy Security (IES) had forecasted that petrol and diesel prices may remain unchanged. However, it had also projected that Liquefied Petroleum Gas (LPG) prices may drop by about 5% during the same period.