Petroleum prices are predicted to climb starting today, with liquefied petroleum gas (LPG) seeing the biggest increase, therefore Ghanaians will need to prepare for rising gas expenses.
Petrol and diesel costs are expected to rise by about 2% per litre, while LPG prices may rise by a substantial 4.6% per kilogram, according to internal data obtained by Metrotvonline.
According to projections, the price of petrol will rise by 1.9%, reaching around ¢15.72 per liter. Diesel is anticipated to increase by 2.1%, reaching ¢16.60 per litre.
LPG, on the other hand, is expected to experience the largest increase, rising 4.6% to around ¢18.20 per kilogram.
Although Oil Marketing Companies (OMCs) can use these numbers as a guide, it is still unclear if the new pricing will be accepted by all industry participants. Some OMCs may decide to change pricing at their own discretion due to the market’s competitiveness.
The growing cost of completed petroleum products and the rising price of crude oil on the global market have been widely blamed for the price increases.
Furthermore, the issue has been made worse by the cedi’s depreciation, which in January alone saw it fall by more than 2% versus the US dollar, raising the cost of petroleum imports.
Concerns about the wider economic effects of these changes are raised by the anticipated increase in the burden on homes and businesses that depend on fuel and LPG as consumers get used to the new pricing.
