Ghanaians Wail Over GH¢10 Per Litre For Diesel, Fear The Worst Is Yet To Come

Ghanaians Wail Over GH¢10 Per Litre For Diesel, Fear The Worst Is Yet To Come

  • Ghanaians took to social media on Wednesday to vent their frustration over the increase in fuel prices.
  • As predicted by COPEC-GH, fuel prices have been priced above GH¢10 at Total, prompting fears that the worse is yet to come.
  • Many Ghanaians have called on the President to intervene by cushioning consumers from the latest hikes.

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Wednesday’s fuel price increase has compelled some Ghanaians to take to social media to vent their frustration after diesel crossed GH¢10 per litre.

Many tweets and Facebook posts say there appears to be a bi-weekly hike in the price of the commodity.

At Total, diesel is currently selling at GHS10.80 per litre, while petrol sells at GHS9.70 per litre.

Fuel price increase
Ghanaians are venting their frustration on social media over the GH¢10 per litre for diesel. Source: Twitter/@Mr_Ceyram
Source: Twitter

The price of LPG has also increased by at least 20% per kilogramme.

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Fuel prices have increased consistently at every pricing window (every two weeks) for three consecutive times.

The recent fuel price increase has been triggered by a record high price of crude oil on the international market following a shortage triggered by sanctions on Russia, a major oil producer, for invading Ukraine.

But specifically in Ghana, the hikes in the price of the commodity has been worsened by the big fall of the cedi’s value against the US dollar.

Because the refined fuel is imported, a weak cedi means consumers will pay more for the petrol and diesel when importers use more dollars to import the commodity.

Also, a raft of taxes on a litre of fuel has piled up the final cost of the commodity on the consumer.

Ghanaians pay at least 60 pesewas for a litre of petrol in taxes. Some experts have said this was bad.

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Following the increase of petrol and diesel in the first pricing window for March (March 16, 2022), many Ghanaians have called on the government to cushion them from the harsh increases.

With transport operators serving notice that they may increase fares soon over the latest fuel price hikes, Ghanaians are sure to experience even harsher times.

Food prices are bound to increase because an increase in transport fares generally triggers an increase in the price of goods and services.

Maybe it is time for the government to intervene.

Below are some of the reactions of Ghanaians on social media to the March 16 fuel price increase.

@VLKDjokoto said:

The price of fuel is more certain to rise than the sun is — and this is the final nail in the coffin of our economy. The New Patriotic Party has turned Ghana into a hell hole with a government overdosed on corruption, and a citizenry burdened with an outrageous cost of living.

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Falling Cedi, Russia-Ukraine War Pushes Fuel Prices Up, Ghanaians Soon Buy Diesel Above GH¢10 Per Litre

Petrol and diesel prices at the pumps are set to go through the roof in Ghana from March 16, 2022, a situation triggered in no small measure by the falling cedi.

Also, calculated sanctions on Russia by the US and its allies over its widely condemned incursion on Ukraine have also been fingered as a key factor in the hike in fuel price in Ghana.

The fall of the cedi against the US dollar, according to energy think tank, Chamber of Petroleum Consumers Ghana (COPEC-GH) has triggered a sharp rise in fuel prices for the next pricing window.

Source: YEN.com.gh

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