Fuel price to rise by 4-11% at pumps effective Tuesday
Effective Tuesday, 1st August 2023, consumers will be met with a rise in fuel prices, according to Benjamin Nsiah, an Energy Policy Analyst with the Centre for Environmental Management and Sustainable Energy.
The anticipated price adjustments are expected to have significant implications on the nation’s economy and consumer spending.
Petrol prices according to the energy analyst, are projected to increase by approximately 4.7%, reaching around Ghc12.98 per litre.
Diesel prices are set to witness a steeper surge of about 7.9%, trading at approximately Ghc13.43 per litre.
LPG (Liquefied Petroleum Gas) prices will experience the most pronounced rise of approximately 11.77%, with the new price expected to settle around Ghc11.20 per kilogram.
For a standard 14.5kg LPG cylinder, the price is likely to hover around Ghc162.
The looming fuel price hikes may pose challenges for consumers and industries heavily reliant on fuel, potentially impacting transportation costs and exerting inflationary pressures on the broader economy.
Amidst these fluctuations in the petroleum market, stakeholders across various sectors will closely monitor the developments, adjusting their strategies to navigate the evolving energy landscape and its potential implications.
