In the upcoming days, customers can anticipate paying nearly GH13 and more than GH15 per litre for gasoline and diesel, respectively.
The main reasons for the anticipated increases, according to analysts, are the rising prices of commodities on the global market and the cedi’s ongoing depreciation against the dollar.
At most gas stations, the price of gasoline is currently around GH11 per litre, while the price of diesel is currently around GH14.
“Give or take,” said Duncan Amoah, executive secretary of the Chamber of Petroleum Consumers Ghana, “we are looking at something in the region of 10% for both gasoline and diesel.”
“Overall, we simply anticipate that pump prices will increase as a result of the numbers we have in the industry.”
Given that we import almost all of the goods we use in the nation, the depreciating cedi doesn’t look good for petroleum prices, Mr. Amoah continued.
The Institute for Energy Security’s Executive Director, Nana Amoosi VII, provided a more dire forecast of fuel prices while appearing on Eyewitness News.
Also read: Fuel prices to rise as a result of reduced global supply
He anticipates that gas prices could reach GH17 per litre.
He predicts that the upcoming winter will result in a rise in the demand for natural gas, which will eventually have an impact on fuel prices.
Any demand for liquid fuels “will also contribute to the upward adjustments of our domestic fuel prices, as natural gas gets squeezed and directed towards the liquid fuels as well.”
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