Fuel prices set to go up marginally

quist

February 17, 2016 10:18 AM

Prices are therefore expected to go up between 2% and 3% for both Petrol and Diesel today.

As part of the petroleum downstream deregulation policy, Oil Marketing Companies are to assess their prices on a fortnight basis to reflect changes in costs of production and inputs.

In line with this, prices are likely to change today( Wednesday), with many experts predicting a marginal reduction mainly in the price of petrol.

This has been attributed to a marginal increase in the prices of crude on the international market in the past two weeks.

Prices are therefore expected to go up between 3% and 2% for both Petrol and Diesel today.

Already, Pulse Business can confirm that Shell Ghana has decreased the price of petrol by a little over 1%.

Before, a gallon of Petrol at an average Shell Filling Station cost 15 Ghana Cedis 28 pesewas. At the time Pulse Business checked at 8am Wednesday morning, the commodity is now going for 15 Ghana Cedis 6 pesewas at the East Legon Shell.

For diesel, Shell has increased the price by over 1.2%. Again when Pulse Business checked at the East Legon Shell this morning, a gallon of diesel that used to sell for 14 Ghana Cedis 30 pesewas is now going for GHC14. 35.

Goil, Allied Oil, and other major OMCs are also set to review their prices by the end of the day today.

LPG will however not witness any increase because changes on the world market are somehow negligible. But because of the recent deregulation policy, prices at the various service station may differ from one to the other.

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