Reduced Petrol prices down by only 9% – 14%

  • Published: , Refreshed:

The increases were largely due to the consistent drop of the cedi against the dollar and other major foreign currencies and not due to increases in crude oil prices on the world market.

24/7 Live - Subscribe to the Pulse Newsletter!

Contrary to calls by the Chamber of Bulk Oil Distributors (CBOD) for prices of petroleum products to be reduced by 25%, Citi Business News checks have revealed various Oil Marketing Companies have only sanctioned  a close to 15%  reduction in price of  petrol.

This follows the good performance of the cedi against the dollar and other major foreign currencies. The OMCs since June 16 have increased the prices of various petroleum products by close to 20% as the National Petroleum Authority took the first step towards the implementation of the full deregulation of the petroleum downstream sector.

The increases were largely due to the consistent drop of the cedi against the dollar and other major foreign currencies and not due to increases in crude oil prices on the world market.

But since the cedis recovery, there have been several demands for an equal huge reduction in the prices of petrol and diesel.

This has informed the latest reduction in fuel prices ranging between 9% to 14% for petrol and 16% to 20% for Diesel.

A visit to the GOIL pump station at Kaneshie showed a 33 pesewas drop in the price of petrol representing a 9.5% reduction.

It is currently selling at 3 cedis 46 pesewas per litre, while it was previously selling at 3cedis 79pesewas per litre.

The price of Diesel has also reduced by 50 pesewas  representing a 16.28% drop in price .It  is now selling at 3 cedis 7 pesewas per litre while it was previously being sold at 3 cedis 57 pesewas.

Another pump station Engen, has reduced the prices of the petrol by 49 pesewas per litre representing a 14.18% drop in price.

The Engen pump station here in Adabraka was selling petrol at 3 cedis 46 pesewas while it was previously being sold at 3 cedis 96 pesewas per litre.

The price of diesel has also reduced by 58 pesewas, thus an 18.4% reduction in price. Petrol is   selling at 3 cedis 14 pesewas.

It was previously going for 3 cedis 72 pesewas per litre at Engen pump stations across the country.

At the shell filling station at Kaneshie, the price of petrol has been reduced by 48 pesewas, a 13.8% reduction in price.

Petrol is selling at 3 cedis, 49 pesewas while it was previously selling at 3 cedis 97 pesewas.

The price of diesel went down by 19.85 % and currently selling at 3 cedis 10 pesewas per litre , showing a 62 pesewa drop in price . It was previously selling at 3 cedis 72 pesewas per litre.

Also at the Total fuel station at Kaneshie , the price of petrol has reduced by 44.4 pesewas translating into a 12.56% reduction in price.

Petrol is currently selling at 3 cedis 53.5 pesewas while it was previously being sold at 3 cedis 97.9 pesewas.

Diesel has also drop by 58 pesewas which represents an 18.63% reduction in price and is, currently selling at 3 cedis 14.4 pesewas per litre while it was earlier selling at 3 cedis 73 pesewas.

Meanwhile the So Filling Station in Adabraka has maintained the prices of their products.

A visit to the station showed petrol is selling at 3 cedis 99 pesewas while Diesel is selling at 3 cedis 75.

Source: citifmonline.com

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos




Top Articles

1 Poverty Gap Ghana’s policies make the rich wealthier – UNbullet
2 Menzgold Ghana Don't deposit money with Menzgold – BoG cautions public...bullet
3 Job Creation Nation Builders Corps to be launched end of April - Bawumiabullet
4 Menzgold Ghana Investment company closes down its Gold Vault Marketbullet
5 Salaries In 2018 Here are the dates public workers will be paid...bullet
6 NPP government Ghana Beyond Aid is fight for economic...bullet
7 SSNIT Scandal 10 SSNIT staff with fake certificates...bullet
8 $100K Saga Presidency denies having knowledge of $100,000...bullet
9 Retirement How to calculate your SSNIT pensionbullet
10 In Upper East 2 men killed in daylight bank robberybullet

Top Videos

1 Forbes 2018 Africa's billionaires rich listbullet
2 Money Alert Meet Africa's richest womanbullet
3 New Discovery Ghana discovers new mineral, lithium in commercial...bullet
4 Dr Joseph Siaw Agyepong Nobody can collapse my company – JOSPONGbullet
5 Plane Crash Starbow suspends operations following plane crashbullet
6 Support Finance minister buys Kantanka carbullet
7 New Phone Nokia’s MWC 2018 Event in Under 10 Minutesbullet

Business