Petrol price rises to GHS 15.22 per litre as diesel falls to GHS 14.65
In a move reflecting the prevailing dynamics of the international energy landscape, several Oil Marketing Companies (OMCs) have implemented price adjustments for petroleum products effective today, Friday, May 3, 2024.
The latest fuel prices indicate a notable uptick in the cost of petrol, with market leader GOIL setting a litre at GH₵15.22, juxtaposed against a reduction in diesel prices to GH₵14.65 per litre.
The upward adjustment in the price of petrol has been attributed to escalating crude oil prices on the global market and the depreciating value of the local currency.
Market analysts had forewarned of price increments in fuel prices predicated on the prevailing geopolitical tensions and supply-demand imbalances.
The increase in fuel prices at the pumps could push transport operators to begin a fresh round of negotiations to increase transport fares leading to an increment in goods and services and potentially resulting in an uptick in headline inflation and further exacerbating the living conditions of Ghanaians.
