Crude oil prices surged on Monday January 9, after China, one of the world’s largest economies opened its borders. With China being one of the largest importers of crude oil, the re-opening of their borders led to an increase in demand which pushed the prices of the crude oil from US$74.67 to US$79.47 per barrel. […]
Tag: Fuel Prices
Fuel prices drop by 8%
Some leading Oil Marketing Companies (OMCs) have begun reducing prices of some petroleum products at the pumps. Market leader, GOIL, has announced more than 8% reduction in fuel prices. It has slashed the the price of diesel by ¢1.50 to now sell at ¢14.60 per litre. On the other hand, petrol is going for ¢12.40 […]
Fuel prices to fall significantly from December 16, 2022
Prices of petroleum products are expected to fall significantly beginning this Friday, December 16, 2022, the Institute for Energy Security (IES) has projected. According to IES, the expected price drops would be significant due to the 6.60% appreciation of the cedi against the US dollar. It said the new prices will fall to about ¢13 […]
Fuel prices to be reduced next week – COPEC
The Chamber of Petroleum Consumers (COPEC) has announced that fuel prices are likely to be reduced by Monday, November 14, 2022. There has been a recent hike in fuel prices, including diesel and petrol. Diesel is currently selling for more than GH¢23, while the price of petrol is hovering around GH¢18. But speaking to Roselyn […]
Reduce fuel prices to lower cost of food – Traders to Government
Traders have called on the government to take urgent steps to reduce fuel prices to mitigate the economic hardships they currently face. According to the traders, the continued increment in fuel prices had increased the cost of transporting foodstuffs from the farm gates in the rural areas to urban markets. They also said middlemen who […]
Fuel prices to stabilise – BDCs assure public after BoG intervention
The persistent rise in the prices of petroleum products at the pumps in the last couple of months will now be a thing of the past, the Chief Executive Officer of the Chamber of Bulk Oil Distributors (CBOD), Senyo Hosi, has assured. This follows the major intervention by the Bank of Ghana (BoG). The central […]
We’ve been engaging BoG; new interventions to reduce fuel prices in the offing – Chamber of Bulk Oil Distributors
The Chamber of Bulk Oil Distributors (COBD) says there will be some reprieve for consumers of petroleum products soon because of some measures the Bank of Ghana (BoG) has announced. The Central Bank has announced it will provide more forex for importers of petroleum products at competitive rates, which is expected to check the recent […]
Government directs GOIL to reduce price of fuel after meeting with transport unions
Government has directed the Ghana Oil Company (GOIL) to reduce price of fuel at the pumps effective Tuesday, December 7. This follows a crunch meeting between government and transport operators at the Presidency on Monday evening. Head of Communications at the GPRTU, Abass Imoro, who disclosed this on PM Express with Evans Mensah, on Monday, said government […]
Coalition of transport operators threaten strike action
The coalition of private transport operators have threatened to embark on a strike action if government does not reduce taxes on fuel. The group has given the government a three day ultimatum to grant their request or face the wrath of their members. The strike action is to commence at 3pm on Thursday, November 11, […]
Fuel prices inch closer to Gh¢24 Per Gallon-IES
The Institute for Energy Security (IES) says fuel prices are inching towards 24 Ghana Cedis per gallon. This was captured in its first pricing window projections for June 2019. A statement issued by the institute and signed by its research analyst, Mikdad Mohammed attributes the trend to a combination of international market prices as well […]