Consumers of petroleum products in the Republic of Ghana should be prepared to pay more for the fuel at the pumps in the first pricing window in June, Institute for Energy Security (IES) has said.
The energy think tank said per its analysis, it expects the prices of fuel on the domestic market to go above April 2020 levels.
“Going by the 23.25 percent surge in price of Brent crude oil, in addition to the 41.80 percent and 22.68 percent significant rise in the prices of gasoline and gasoil respectively on the international market; the Institute for Energy Security (IES) foresees prices of fuel on the domestic market going up, and above April 2020 levels,” it said in a statement.
It added, “The marginal depreciation of the local currency would also be another determinant for the Bulk Distribution Companies (BDCs) in selling to the OMCs, and that would definitely reflect at the pump.”
A litre each of petrol and diesel is currently sold for GHc4.1.