Some Oil Marketing Companies (OMCs) have begun upwardly adjusting fuel prices at the pumps following the commencement of the first pricing window in October.
This marks the first increase after four sustained declines in fuel prices since the first pricing window in August.
Shell which previously sold petrol (Fuel Save Super) at GH¢13.49 per litre in the second pricing window of September is now retailing the product at GHS 13.79.
Diesel (Fuel Save Diesel) which was also previously retailed at GH¢13.99 per litre, is now priced at GH¢ 14.35.
The increment according to market analysts is being attributed to international developments including rising tensions in the Middle East, the price of refined petroleum products such as petrol increasing by 1.09%, while that of diesel has declined by 1.67% as well as the Cedi’s depreciation against major trading currencies such as the US dollar.
Additional OMCs are anticipated to follow suit and increase their prices in the coming days.
By Daniel Sackitey
