The woes of Ghanaians continue to deepen with further fuel price increases. Fuel Prices have been increased at the pumps by approximately 1.6%.
The Institute for Energy Security (IES) predicted earlier predicted that Oil Marketing Companies (OMCs) may increase petroleum prices within the month of January. This is to cushion the crude oil price increase at the global front due to the US-Iran crises which is dictating sentiments towards marginal price increases.
While the exchange rate performance — a key determinant in the price build-up — improved, the energy policy think tank argues that it would still not be enough to offset the increase in prices of oil on the international market.
Below fuel prices at the pumps: