Fuel price increase: Petrol selling at GH¢14.99, diesel going for GH¢14.80

Some Oil Marketing Companies have started increasing prices of petroleum products at the pumps in line with the two-week review period.

Market Leader, GOIL is selling a litre of petrol at ₵14.99.

Diesel is currently going for ₵14.80.

Some of the Oil Marketing Companies have attributed the increase to the recent depreciation of the cedi to the dollar.

In addition, some stakeholders have blamed the increase on government’s decision to reinstate the Price Stabilization and Recovery Levy on prices of petroleum products.

The reintroduction of the levy imposed 16 pesewas on petrol and 14 pesewas on diesel.

It is also not clear for now whether the decision of the National Petroleum Authority to set a price floor for fuel has also impacted on the prices at the pumps.