Extra Oil Advertising Firms (OMC) have elevated costs of petroleum merchandise on the pumps.
GOIL and Shell are the newest to extend the costs of diesel and petrol rom right this moment July 2, 2024.
Each OMCs are promoting a litre of Petrol at ₵14.80 and diesel can be going for ₵14.92.
Star Oil took the lead yesterday promoting a litre of diesel at ₵14.79 and petrol ₵13.88.
A lot of the OMCs have linked the current spherical of will increase to the depreciating cedi and rising costs of completed petroleum merchandise on the world market.
COPEC forecast
Earlier, the Chamber for Petroleum Customers (COPEC) predicted an increase in gasoline costs for the primary pricing window of July 2024.
COPEC attributed the anticipated value hike to an additional depreciation of the Cedi in opposition to the Greenback, with the trade fee dropping from a median of $1:GH¢14.4788 to $1:GH¢15.2779, a decline of 1.89%.
“In consequence, the retail value of petrol is projected to rise by 2.17 p.c from the present common pump value of GH¢14.17 per litre to GH¢15.20 per litre”.
“Equally, the imply retail pump value of diesel is predicted to extend to GH¢15.21 per litre. The worth of LPG can be projected to rise, with costs ranging between GH¢13.24 per kg and GH¢14.64 per kg”, it stated.
In its projection, COPEC urged the federal government to scale back taxes on LPG or subsidise its value to encourage widespread use and accessibility, which might assist defend the surroundings by lowering reliance on firewood.
Moreover, COPEC appealed to the federal government to expedite efforts to convey the Tema Oil Refinery (TOR) again into operation.
Earlier, the Chamber for Petroleum Customers (COPEC) predicted an increase in gasoline costs for the primary pricing window of July 2024.
COPEC attributed the anticipated value hike to an additional depreciation of the Cedi in opposition to the Greenback, with the trade fee dropping from a median of $1:GH¢14.4788 to $1:GH¢15.2779, a decline of 1.89%.
“In consequence, the retail value of petrol is projected to rise by 2.17 p.c from the present common pump value of GH¢14.17 per litre to GH¢15.20 per litre”.
“Equally, the imply retail pump value of diesel is predicted to extend to GH¢15.21 per litre. The worth of LPG can be projected to rise, with costs ranging between GH¢13.24 per kg and GH¢14.64 per kg”, it stated.
In its projection, COPEC urged the federal government to scale back taxes on LPG or subsidise its value to encourage widespread use and accessibility, which might assist defend the surroundings by lowering reliance on firewood.
Moreover, COPEC appealed to the federal government to expedite efforts to convey the Tema Oil Refinery (TOR) again into operation.