Confirmed: Ghanaians to pay more for fuel from June 1 onwards
Business & Economy section is brought to you by Jiji.gh — #1 Ghanaian online marketplace
Visit website

Confirmed: Ghanaians to pay more for fuel from June 1 onwards

- The National Petroleum Authority (NPA) has announced an increase in fuel prices

- The upward review of the prices takes effect from Monday, June 1, 2020

- The NPA revealed the decision was taken by Cabinet and communicated to them via the Energy Ministry

Our Manifesto: This is what YEN.com.gh believes in

The National Petroleum Authority (NPA), has, per a release, has announced increments in fuel prices.

The upward review of the prices takes effect from Monday, June 1, 2020.

The NPA explained that the decision was taken by Cabinet and communicated to them via the Ministry of Energy.

Confirmed: Ghanaians to pay more for fuel from June 1 onwards

Source: Ghana Web
Source: UGC

READ ALSO: COPEC says fuel prices may not fall in Ghana as has happened on the world market

“We write to inform you of a review of the BOST Margin in the Price Build-Up (PBU) of petroleum products effective 1st June, 2020. This is in line with a decision taken by Cabinet and communicated to the National Petroleum Authority (NPA) by the Ministry of Energy” the statement read.

Per a report by Ghana Web, the statement implies that Ghanaians will pay more for fuel at the various fueling stations all over the country.

The margin allotted to the Bulk Oil Storage and Transportation (BOST), which used to be three pesewas per litre has been increased by an additional three pesewas.

YEN.com.gh earlier reported that the Institute of Energy Security (IES) earlier hinted at a possible increase in fuel prices during the first pricing window in June 2020.

According to the IES, the price would go above the rate charged in April 2020 and this is due to the 23.25% surge in the price of Brent crude oil.

It added that it could also be a result of the 41.80% and 22.68% increases in the prices of Gasoline and Gasoil respectively on the international market.

READ ALSO: IES predicts fuel prices may increase soon

Enjoyed reading our story? Download YEN's news app on Google Playstore now and stay up-to-date with major Ghana news!

Bawumia fires Mahama - Stop embarrassing yourself; always check the data before you talk | #Yencomgh

Subscribe to watch new videos

Want to be featured on YEN.com.gh? Send us a message on our Facebook page or on Instagram with your stories, photos or videos

Source: Yen

Mailfire view pixel