The prices of fuel have increased at some major Oil Marketing companies in Ghana.
Checks made by ghanatalksbusiness.com at two major OMCs, Total and Shell, showed a 24 pesewas increase of the prices of both Diesel and Petrol. Total and Shell fuel price are now both selling at GHc5.18. However Engen and Puma crossed the Ghs5 mark earlier in the week to reach Ghs5.10 and Ghs5.18 respectively for both Petrol and Diesel.
GOIL, Allied and others on the other hand are yet to adjust their prices. Petrol and Diesel are still selling at GHc4. 94 pesewas.
Some motorists who spoke to ghanatalksbusiness.com in an interview, said that though they anticipated increment in fuel prices, they were not expecting it to go that high at the current GHc5.18.
Another motorist stated that because of the cedi depreciation he was even expecting fuel price at the pumps to exceed GHc5.30. He added that the way out for him now is park his vehicle during the weekday for him not to go out of his budget for the month.
Meanwhile, The Institute of Energy Security (IES) earlier this month predicted that consumers should brace themselves to pay more for fuel at the various pumps as the price is likely to exceed 5 cedis per litre.
According to the IES the increment in price of fuel is occasioned by the 6.33% rise in average Brent crude price, as well as a corresponding 8.81% and 5.56% increase in prices of Gasoline and Gasoil on the international market respectively.