Fuel prices shoot up; petrol now selling at ¢13.50, diesel ¢13.90 per litre

 Some Oil Market Companies have began increasing the prices of petroleum products at the pumps

Total Energies has expanded the fee of petrol to ¢13.50 according to litre from ¢12.45 consistent with litre at the beginning of the month. Diesel is also going for ¢13.90 according to litre from the previous charge of ¢12.45 per litre.

Goil has additionally extended costs petrol to ¢13.50 and diesel to ¢13.90 per litre.

The rest of the OMCs are expected to additionally regulate costs these days August 16, 2023.

Earlier, the Chamber of Petroleum Consumers (COPEC) introduced that fuel expenses will see an boom of approximately 5.7% within the 2d pricing window of August.

A statement signed by the Executive Secretary, Duncan Amoah, said the trade is because of increased in prices of finished merchandise on the international market by using averagely round 11% for both petrol and diesel.

He added that crude price has additionally been elevated by way of 6.79% from the mean price of $80.67/barrel to $86.15/barrel despite the fact that the foreign exchange or Dollar trade price has highly reduced from a preceding average of ¢11.7185 to ¢eleven.4538 (-2.26%) according to $1.

Petrol

The statement spelt out with the international rate increasing from $898.55/MT to $965.58/MT (7.46%), the retail charge works as much as GH₵12.97/L

Thus, Petrol is anticipated to growth by4.37% of the present day mean Pump retail rate of GH₵12.Forty/L, to close selling among GH₵12.32/L and GH₵13.62/L inside ±five% of COPEC’s prediction.

LPG

With the global benchmark fee growing from $423.75 metric tonne to $547.79 metric tonne (29.27%), the projected retail fee of LPG is expected to be selling averagely at ¢12.30 in step with kilogramme.

Thus, inside ±5% mistakes, LPG is expected to be offered between ¢11.Sixty nine/kg and ¢12.92 in line with kilogramme.