Fuel prices in the Republic of Ghana are likely to cross GH¢9 ($1.25 )per litre in the second pricing window which takes effect from Wednesday, March 16, 2022.
Currently, a litre of both gasoline (petrol) and diesel (gasoil) are sold between GH¢8.22 and GH¢8.50 per litre.
Crude oil prices jumped to a record high on March 7, 2022, with West Texas Intermediate WTI trading at $126 while International Benchmark Brent sold $130 per barrel on the back of the Russian invasion of Ukraine.
Shockingly, as of Tuesday, both WTI and Brent nosedived to $96.44 per barrel and $98.47 respectively.
Ahead of the second pricing window which begins tomorrow (Wednesday), the Association of Oil Marketing Companies (OMCs) in the Republic of Ghana is projecting that a litre of petrol and diesel could be sold between GH¢10 and GH¢12.77.
In a document intercepted by energynewsafrica.com which presents several scenarios, the AOMCs observed that both petrol and diesel could be sold between GH¢10.43 and GH¢12.77 while LPG is likely to sell between GH¢9.88 per kilo and GH¢11.44 per kilo.
Consumers have been lamenting over the rising cost of fuel on the local market.
While some Ghanaians are blaming the government for the incessant increment in fuel prices due to the taxes on the commodity, others believe the government cannot be blamed since crude prices are going up on the international market.
Source: https://energynewsafrica.com
Discover more from Energy News Africa
Subscribe to get the latest posts sent to your email.