Fuel price increase: a litre of petrol, diesel selling at GH₵14.84

Oil marketing companies in Ghana have started increasing petroleum product prices at the pumps.

Shell now sells petrol and diesel at GH₵14.84 per litre, while market leader GOIL has raised petrol to GH₵14.60 and diesel to GH₵14.75 per litre.

The price hikes are attributed to a GH₵0.05 increase in the Unified Petroleum Price Fund (UPPF) margin, mandated by the National Petroleum Authority starting June 1, 2024. Analysts question the rationale, noting falling crude oil prices and a stable cedi should lower pump prices.

The impact on transport fares remains uncertain as more firms are expected to adjust prices.