In line with the predictions made by the Chamber of Petroleum Consumers (COPEC), fuel prices have gone up and some Oil Marketing Companies (OMCs) have increased their prices at the pump Sunday, January 16.
COPEC predicted that Ghanaians should expect prices of petrol and diesel to surge by 3.7% and 2.5% respectively.
COPEC said ex-pump prices of petrol and diesel were expected to increase by 24 pesewas and 17 pesewas respectively.
“The average surge for both products in nominal terms is 20 pesewas representing 3.1%. Some Oil Marketing Companies (OMCs) could increase their prices less than the 20 pesewas increase due to competition,” a statement issued by COPEC on Monday, January 3 indicated.
According to checks this morning, Total Oil has increased the price of diesel from GHc 6.85 to GHc 7.05.
The price of petrol also went from GHc 6.80 to GHc 6.99 per litre.
This means that percentage-wise, a litre of diesel at Total’s service stations in the country has gone up by 2.91% per litre and 2.79% for petrol per litre.
Prior to this, the National Petroleum Authority (NPA) announced that it has extended the removal of the Price Stabilisation and Recovery Levies (PSRL) on petrol, diesel, and LPG for another one month.
According to a statement signed by the Chief Executive of NPA, Mustapha Abdul-Hamid, President Akufo-Addo has directed that the PSRL on petroleum products be removed for the month of January 2022.
Meanwhile, the Concerned Drivers Association of Ghana (C-DAG) has announced a 40% increment in transport fares across the country from Monday, January 17, 2022.
According to the Association, the increase has become necessary due to the unbearable hardship bedevilling drivers.
“It must be noted that we commiserate with Ghanaians on the current economic hardship but in order to keep us in business, we are left with no other option but to adjust transport fares a little upward which is a 40% increment,”
Part of the statement released on January 10 read.
The group further explained that the 40% increase in fares is influenced by a number of factors/reasons including the price of fuel at the pumps, the increase in the prices of vehicles and the increment of spare parts and lubricants.
“It must be noted that we also experience the economic conditions of the country. It has become extremely difficult for us to manage our homes as prices of basic commodities, including sachet water have also seen an upward increment,”
The statement added.
C-DAG urged Ghanaians to embrace the new “transport fares when it takes effect from Monday, January 17, 2022.”
The Association has also urged the Ghanaian public to avoid fighting drivers and their conductors (mates) when the new fares are implemented.
