Ghana: Fuel Prices Shoot Up Significantly

Fuel prices have been increased in the Republic of Ghana with a litre of petrol selling around Gh¢13.50 while diesel is sold at Gh¢13.90 per litre.

The increment in fuel prices is a result of the rise in prices of finished products—diesel and petrol —and crude oil prices within the first pricing window from August 1-15, 2023.

Data from the regulator, National Petroleum Authority (NPA), showed prices of finished products—diesel and petrol—jumped on the international market within the last two weeks with an estimated price of gasoline (petrol) being US$967.29 per metric tonne while gasoil (diesel) was US$901.73 per metric tonne.

As of Wednesday morning, August 16, 2023, leading oil marketing companies— GOIL Plc, Shell, TotalEnergies and Star Oil adjusted their pump prices upward.

GOIL and TotalEnergies adjusted their pump prices of petrol to Gh¢13.50 per litre from the previous Gh¢12.95 per litre while diesel was adjusted to Gh¢13.80 per litre.

Shell adjusted its petrol price to Gh¢13.29 per litre while diesel was adjusted to Gh¢13.39 per litre. It previously sold both petrol and diesel at Gh¢12.95 per litre.

Star Oil also adjusted its pump prices for both petrol and diesel at Gh¢12.49 per litre. It previously sold petrol at Gh¢11.99 per litre while diesel was sold at Gh¢12.25 per litre.

Dukes adjusted petrol price to Gh¢12.38 per litre while diesel was adjusted to Gh¢12.45 per litre.

Petrosol Ghana also adjusted its pump prices with petrol selling at Gh¢12.99 per litre while diesel is sold at Gh¢13.19. It previously sold petrol at Gh¢12.65 per litre while diesel was sold at Gh¢12.69 per litre.

Pacific also adjusted its pump prices with petrol selling at Gh¢12.95 per litre while diesel is sold at Gh¢13.15.

Cash Oil also adjusted both pump prices for petrol and diesel at Gh¢12.49 per litre.

Allied is selling petrol at Gh¢12.47 per litre while diesel is sold at Gh¢12.57 per litre.

Lucky Oil is selling petrol at Gh¢12.45 per litre while diesel is sold at Gh¢12.49 per litre.

Zen is selling petrol at Gh¢12.38 per litre while diesel is sold at Gh¢12.49.

Unlike in other parts of Africa where fuel prices are reviewed monthly, in Ghana, fuel prices are reviewed every two weeks.

Source: https://energynewsafrica.com