Business
Fuel Prices Set to Rise Today
Petrol and diesel prices increase due to global crude oil costs, but market competition may keep some Oil Marketing Companies from adjusting prices immediately.
- Petrol up 2% (GHC 15.20/L), Diesel up 1.1% (GHC 15.35/L), LPG down 0.3%
- Global crude price hike
- Some OMCs may delay hikes
Starting today, April 2, fuel prices are set for a slight increase, with petrol expected to rise by 2% to GHC 15.20 per liter and diesel by 1.1% to GHC 15.35 per liter.
However, LPG users will see a minor relief, as prices are set to dip by 0.3% to GH¢17.30 per kilogram.
The surge is largely driven by rising global crude oil prices, fueled by U.S. sanctions and supply constraints affecting major producers like Iran and Venezuela. Interestingly, the cedi’s stability is not a factor in this hike.
Despite these projections, not all Oil Marketing Companies (OMCs) will immediately adjust their prices.
Some may hold off on increases due to market competition and consumer demand, opting for a wait-and-see approach to retain customers.
