Fuel prices have increased for the second time in July following renewed tensions in the Middle East, which have driven global crude oil and refined petroleum product prices higher.
International benchmark Brent crude rose sharply on Thursday to US$100 per barrel, while West Texas Intermediate (WTI) traded at US$89 per barrel.
Meanwhile, the Ghana cedi traded at an average interbank exchange rate of **GH¢11.64 to US$1as of the close of business on Friday.
In response to these developments, Oil Marketing Companies (OMCs) over the weekend adjusted their pump prices to reflect changes in both the international oil market and the local foreign exchange market.
GOIL PLC, the market leader revised its prices, with Petrol (Regular) selling at GH¢14.78 per litre, Petrol (RON 95) at GH¢16.87 per litre, and Diesel at GH¢17.71 per litre.
Star Oil, the country’s second-largest OMC, also reviewed its prices. Petrol (Regular) is now selling at GH¢14.47 per litre, Petrol (RON 95)at GH¢16.75 per litre, and Diesel at GH¢16.67 per litre.
TotalEnergies increased its prices, with petrol selling at GH¢14.78 per litre and diesel at GH¢17.82 per litre.
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Shell also adjusted its pump prices, with petrol selling at GH¢14.78 per litre and diesel at GH¢17.82 per litre.
PETROSOL revised its prices, with petrol selling at GH¢14.39 per litre and diesel at GH¢17.78 per litre.
Gaso increased its prices, with petrol selling at GH¢15.15 per litre and diesel at GH¢17.70 per litre.
Benab also reviewed its prices, with petrol selling at GH¢13.80 per litre and diesel at GH¢16.95 per litre.
Goodness Energy adjusted its prices as well, with petrol selling at GH¢14.10 per litre and diesel at GH¢17.10 per litre.
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