Conversations in Ghana today have moved beyond whether or not the price of fuel in the country’s history would surpass the GH₵8 mark.
By and by, fuel prices have been on a sharp rise, almost as high as the rate of the Ghana cedi against the US dollar and other foreign currencies.
Today, at the fuel pumps, fuel prices have shot up by a whopping 16%, a report by myjoyonline.com has said.
So, how does that reflect in the prices you would pay for fuel at the pumps? Here is how the breakdown now looks like:
A liter of petrol is being sold at GH¢13.10 from the earlier GH¢11.10, while diesel is selling at a 12% increase of GH¢15.99, from the previous price of GH¢13.90.
The increment in prices has come about due to a slight increment in the price of crude oil on the world market, myjoyonline reports.
Also, the sharp depreciation of the Ghana cedi has been attributed to these new prices of fuel.
It is also expected that prices of Liquefied Petroleum Gas (LPG) will go up by about 10%, with effect from Monday, October 17, 2022.