Fuel prices up 4%

Prices of fuel at the pumps have shot up by 4%, according to the Chamber of Petroleum Consumers – Ghana.

“Fuel prices that used to trade at Ghc4.490/litre for both petrol and diesel have seen an increase to 4.670 a difference of about 18p or some 4.008% increases, price per gallon per the new increases is now Ghc21.015 from the previous Ghc20.20 for both products,” the Chamber reported in a statement.

The National Petroleum Authority (NPA) had informed Ghanaians prior to the festive season that prices will be stable at the pump, however, the Chamber is reporting that: “Fuel prices across some pumps have been adjusted by as much as 4%, today the 4th day of January.”

Below is the full statement:

CHAMBER OF PETROLEUM CONSUMERS-GHANA

4% FUEL PRICE INCREASES

PRICES CURRENTLY GOING UP AT THE PUMPS.

4/01/18

Contrary to an earlier notice on January 1, 2018 by the National Petroleum Authority, indicating some interventions to keep fuel prices stable at the pumps through the month of January, we can confirm that fuel prices across some pumps have been adjusted by as much as 4%, today the 4th day of January.

Fuel prices that used to trade at Ghc4.490/litre for both petrol and diesel have seen an increase to 4.670 a difference of about 18p or some 4.008% increases, price per gallon per the new increases is now Ghc21.015from the previous Ghc20.20 for both products.

Our roving team continue to keep an eye on the development as well as increases across the other pumps.

These increases coming on the back of an earlier threat by the GPRTU on its intended transport fare increases will certainly put a lot of pressure of the consuming and commuting public.

We reiterate our calls on the government to take a second look at the current price build up as we believe these increases will continue for a very long time if nothing is done about the pricing template and the numerous taxes.

Signed

Duncan Amoah

Executive Secretary

Copec Ghana