Fuel Prices Start To Rise Again Following Depreciation Of Cedi, Prices As High As GH¢15.79

Fuel Prices Start To Rise Again Following Depreciation Of Cedi, Prices As High As GH¢15.79

  • Some Oil Marketing Companies have begun marginally increasing fuel prices after the second pricing window of January
  • Leading companies like GOIL and Shell have already adjusted their fuel prices upwards
  • The increases have been linked to rising crude oil prices on the international market and the depreciation of the cedi

Some Oil Marketing Companies have begun marginally increasing fuel prices.

The increases came in the second pricing window in January.

Fuel Prices, GOIL, Shell, Cedi, Depreciation
At state-owned GOIL petrol sells at GH¢15.74
Source: Getty Images

Citi News reported that leading companies like GOIL and Shell have adjusted their prices.

At GOIL, petrol, sold at GH¢14.99 per litre during the first pricing window of January, is now retailing at GH¢15.74.

Diesel has also slightly risen, moving from GH¢15.60 per litre to GH¢15.77.

Shell has similarly raised the prices of its petroleum products.

Petrol, previously sold at GH¢15.30 per litre, is now priced at GH¢15.59. Diesel has increased from GH¢15.66 per litre to GH¢15.79.

The hike is being attributed to rising crude oil prices on the international market and the depreciation of the cedi.

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Not all companies have increased prices. Total Energies is selling petrol at GH¢15.50 and diesel at GH¢15.99.

Concerns over fuel shortage

The Chamber of Oil Marketing Companies has dismissed reports of an imminent fuel shortage in Ghana.

It assures the public that there is no cause for alarm and clarifies that any risk of fuel shortage has been effectively mitigated.

The company addressed media reports that misrepresented the Chamber of Oil Marketing Companies CEO Dr. Riverson Oppong's comments about a looming fuel crisis.

It also explained that Dr Oppong’s remarks were meant to update stakeholders on a temporary reduction in petrol stock due to operational factors, including the suspension of refining activities at the Sentuo Oil Refinery.

The Ghana Chamber of Bulk Oil Distributors also refuted reports suggesting a critical fuel shortage in the country in the coming days.

However, GNA reported that some parts of the country experienced fuel shortages.

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Mahama government considers ECG privatisation

YEN.com.gh reported that the new government is considering privatising the Electricity Company of Ghana to address current inefficiencies in power distribution.

Mahama expressed these thoughts in a meeting with a World Bank delegation on January 8, 2025.

A previous attempt to privatise the Electricity Company of Ghana was made in 2019, with Power Distribution Services expected to manage the country's power distribution.

However, that agreement was terminated and described as fraudulent.

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Source: YEN.com.gh

Authors:
Delali Adogla-Bessa avatar

Delali Adogla-Bessa (Current Affairs Editor) Delali Adogla-Bessa is a Current Affairs Editor with YEN.com.gh. Delali previously worked as a freelance journalist in Ghana and has over seven years of experience in media, primarily with Citi FM, Equal Times, Ubuntu Times. Delali also volunteers with the Ghana Institute of Language Literacy and Bible Translation, where he documents efforts to preserve local languages. He graduated from the University of Ghana in 2014 with a BA in Information Studies. Email: delali.adogla-bessa@yen.com.gh.