Petroleum prices go up this week

quist

November 20, 2015 2:38 PM

Pulse Business' checks have revealed that petroleum prices have gone up by 9 percent.

Fuel price increases on the international market has led to a slight increase in petrol and diesel prices on the Ghanaian local market.

The National Petroleum Authority's petroleum downstream deregulation policy has ensured that Oil Marketing Companies change their prices in accordance with price changes on the international market as well as changes in the cost components of the fuel.

Meanwhile, prices have remained relatively stable and even in some cases decreased in response to decreases in international oil prices which saw prices decrease from 52 dollars per barel in July to about 42 dollars in September.

All petroleum prices inched up, with he exception of Liquefied Petroleum Gas, which saw 2 percent.

Association of Ghana Industries have mentioned the deregulation policy as one of the things they would like to see revised in 2016.

According to president of AGI, James Asare- Adjei, the frequent changes in prices of the commodity makes it difficult to plan.

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