Fuel Price To Be Up By 5% Tomorrow

 Prices of petroleum products are expected to shoot up by at least 5 percent from Wednesday, March 16, 2022, the Institute for Energy Security (IES) has projected.


In its projections for the March 2022 Second Pricing Window, which will take effect from March 16, 2022, to March 31, 2022, the IES said the price of Liquefied Petroleum Gas (LPG) will go up by 3 percent whereas petrol and diesel would go up by 5 percent and 9 percent respectively.


In an interview with the Ghana News Agency, Mr. Fritz Moses, Research Analyst, IES, attributed the projected increment in prices of petroleum products to what he described as the “sharp” rise in fuel prices on the international market and “sharp” depreciation of the Cedi against the US Dollar in the just-ended window.

Currently, petrol and diesel are selling at an average of GH¢8.2 per liter at the pumps.

Before March 1, 2022, petrol and diesel traded at an average GH¢7.50 per liter, representing an increment of 8.6 percent in the just-ended pricing window.

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