No immediate end in sight to fuel price hikes

Prices of fuel are expected to shoot up Thursday, June 16, 2022, following persistent price hikes on the world market.

Petrol is currently being sold on the market for about GHC10.10 per litre, whereas diesel is going for GHC12.20.

However, from Thursday, a litre of diesel is expected to go up by 11.14 %, while petrol will see an increase of 13%.

Speaking on Behind the News, Fiitz Moses of the Institute for Energy Security said though the government has put in place measures to cushion the consumer in the past few months, "it was for a short period".

He told GBC’s Doreen Ampofo that pressure on the existing limited supply on the international market is a cause for the rise in prices.

He added, "lack of redefining the country’s own oil refining capacities is also a contributory factor to fuel price increase.”

Meanwhile, Commercial Transport Operators are hinting at increasing transport fares, as they continue to monitor the prices at the pumps and on the world market.

The Industrial relations officer of the GPRTU, Abbas Imoro, said some sensitization on the issue.