Fuel prices up by 4%

Prices of the various petroleum products have gone up by 4 percent today.

The increase, however, does not affect Premix and residual fuel oil.

The 4 percent increment is the maximum price that no Oil Marketing Company (OMC) can go beyond.

OMCs can, however, sell their products below the 4% price under the full price deregulation of petroleum products which is kicking off partially today.

The development has been triggered by the rising prices of petroleum products on the world market and the depreciation of the local currency, the Cedi.

They are, however, permitted to sell their products below the 4% price under the full price deregulation of petroleum products which begins today.