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OMCs start increasing fuel prices; Goil selling a liter of petrol, diesel for ¢12.45

  • SOURCE: Reporting Oil and Gas | qwesa2big
    • POSTED ON: June 2, 2023

    Some Oil Marketing Companies (OMCs) have started increasing
    the prices of petroleum products at the pumps.

    Goil has led the way, increasing the price of a liter of
    petrol and diesel to ¢12.45 pesewas from its previous price of ¢12.30 pesewas
    per liter.

    The increase is in line with the biweekly review of prices
    at the pumps.

    According to some stakeholders, the latest increase is due
    to the performance of the cedi and the price of crude oil on the international

    It is expected that more OMCs will also adjust prices upward
    later today.

    IES prediction

    The Institute for Energy Security (IES) earlier on predicted
    that prices of petrol and diesel may remain unchanged.

    The institute however predicted that the price of Liquefied
    Petroleum Gas (LPG) may decline by about 5% during the same period.

     “The Institute for
    Energy Security’s (IES’) review of prices over the past two weeks as monitored
    by Global Standard & Poor (S&P) Platts platform indicate the prices of
    Gasoline [petrol] and Gasoil [diesel] have increased at 4.20% and 2.70%
    respectively whereas Liquefied Petroleum Gas (LPG) decreased by 5.80%”.

    “The Ghana cedi also gained 5.42% against the U.S dollar
    over the two weeks trading period on domestic forex market”, it added

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