MORE OIL Marketing Companies (OMCs) are increasing fuel prices at the pumps.
The upward adjustment follows significant increase in the prices of fuel by Total and Puma by some significant margins at the pumps.
GOIL is now selling a litre of diesel at ¢9.90 pesewas, while petrol is going for ¢9.60 per litre.
Shell is also selling a litre of petrol at ¢9.70 pesewas, whilst diesel is going for ¢9.99 pesewas.
The rising fuel prices strengthen the case of the Unionised Transport Operators to increase transport fares from next week.
The Ghana Private Road Transport Union had indicated that it will increase transport fares, if fuel prices go up by more than 10% per litre this week.
Already, some energy experts are urging government to intervene in the rising fuel prices in order to cushion consumers against shocks.
The Institute for Energy Security (IES) is also appealing to the government to fast-track intervention in the rising fuel prices at the pumps to cushion consumers against hardships.
According to the energy think tank, the hikes in fuel prices have impacted negatively on the cost of living of consumers and households, with inflationary pressures hitting businesses in the country.
“It is rife for government to take a decision on fuel prices keeping in mind the interest of citizens with respect to quality of life. Over the past couple of years, prices of gasoline, gasoil, and Liquefied Petroleum Gas (LPG) have been subjected to constant increases at the pumps, placing financial strain on consumers and households. The hikes in fuel prices are adding to the cost of living, with inflationary pressures hitting businesses in the country,” it mentioned in a recent statement.
BY Jamila Akweley Okertchiri