Following a projected 40 pesewas per liter increment in petroleum products, the Institute for Energy Security has explained that petrol and diesel may sell at GH¢7 per liter each for the first time from Sunday, January 16, 2022.
According to the energy think tank, prices of fuel at local pumps saw a 3 percent increase in petroleum products with prices per litre rising from GH¢6.50 pesewas to GH¢6.70 pesewas in 2021.
The IES in a statement said “on the back of the 7.42% increase in the price of Brent crude, the 9.46% increase in the price of gasoline, the 8.52% increase in gas oil price and the 0.3% depreciation of the local currency against the US dollar; the Institute for Energy Security (IES) informs consumers to remain expectant of a further increase in fuel prices at the pumps, between 30 pesewas to 40 pesewas per litre.
“The imminent price increases, it said may force some Oil Marketing Companies (OMCs) to sell gasoline and gas oil at ¢7per liter at the pumps for the first time.”
amber of Petroleum Consumers-Ghana (COPEC-Ghana) also predicted an increase in fuel prices in the next few days.