Prices of diesel and petrol are anticipated to go up by some 2 percentage points on Thursday, July 1, 2021.
The expected increment is on the back of rising price of crude oil on the international market.
The 2 percentage points increment in the price of crude oil has culminated in a new price list from Bulk Oil Distribution Companies (BDCs) to Oil Marketing Companies (OMCs) in the country.
Per reports, a litre of diesel and petrol will be sold at Ghs 6.33 with a gallon going for Ghs 28.48 for both petrol and diesel.
OMCs in the country are unlikely to absorb the new 2 percent increment given the fact that its umbrella association, the Association of Oil Marketing Companies (AOMC) a week ago declined to absorb a 3 percentage points increment in oil prices on the international market and transferred the increment to consumers.
“Fuel prices are determined by prices on the world market and the exchange rate between the cedi and dollar.”
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“Prices on the world market having been going up for the last month but Oil Marketing Companies (OMCs) have maintained their prices all this while, but we have gotten the point where it is no longer feasible for us to continue to absorb these costs,” asserted Henry Akwaboah, Chairman of the Board of Governors of the AOMC in an earlier interview.
Speaking in the interview, Mr Akwaboah appealed to the consuming public to bear with OMCs across the country, asserting that consumers will be given value for money when they purchase fuel at the various pumps.
“We appeal to the consuming public to bear with us, we wish we could continue to absorb the costs but these are difficult times and at this stage it is very difficult to do that, so they need to bear with us. But we can assure them that they will get value for money when they go to purchase fuel at the pumps,” he intimated.
