Consumers of petroleum products must brace themselves for another increase in fuel prices from Thursday, June 16, 2022.
Data from the Bulk Oil Distribution Companies as reported by JoyBusiness suggests that the price of a litre of diesel is expected to go up by 11.14%, while petrol will go up 13%.
In effect, the average price of fuel is likely to increase by about GH¢1.33 per litre.
Petrol prices are projected to go up by GH¢1.24/Litre which is an 11.41% increase and that of Diesel by GH¢1.43 /Litre also a 12.93% increase.
Petrol at various fuel pumps is currently selling at about GH¢10.10 per litre, whereas diesel is going for GH¢12.20.
This is due to the increasing cost of refinery despite a slight reduction in crude oil prices on the international market.
It is unclear whether the BDCs will negotiate with the OMCs to reduce the margin for the increment but any increment in fuel prices may force commercial transport operators to push for an increment in transport fares.