THE INSTITUTE for Energy Security, (IES) has hinted of a possible upward adjustment in fuel prices at the various pumps across the country from September 2022.
According to the think tank, fuel prices are expected to go up between 5% and 10% translating close to 70 pesewas.
“Whereas the price of Gasoline has fallen by 5.87% and that of LPG by 3.28% the Institute of Energy Security (IES) projects that prices of these products would rise at the pumps. For Gasoil, the 6.48% increase in price will further increase the rate of price jump in September.
“Beginning September 2022, fuel prices are set to see a sharp jump between 5% to 10% at the various pumps. This will add close to GH70p to the current prices,” it noted.
Currently, a litre of petrol is going for about GH¢11 on average and GH¢13 on the average for diesel.
The Institute thus advised consumers to plan accordingly to the expected price hikes in the coming days.
Local Fuel Market Performance
Prices at the local fuel market rose marginally in the just-ended pricing window. Oil Marketing Companies (OMCs) monitored within the pricing window added on average GH20.00p on their prices at their pumps.
The national average price per litre of Gasoline stands at GH¢10.95 up from GH¢10.58 in the last window, representing a 3.50% increase.
Gasoil’s national average price per litre stands at GH¢13.42 from a previous average of GH¢13.28, representing a 1.05% increase.
By Jamila Akweley Okertchiri