Drivers to pay more as diesel shoots up to ¢23 per litre, petrol at ¢18

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Prices of fuel products have gone up again at the pumps prices saw an upward adjustment twice in October 2022.

The price of diesel has shot up to GH¢23.49 per litre while a litre of petrol now sells at GH¢17.99 per litre.

Kerosene is also reportedly selling at GH¢14.70.

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This means Ghanaians will have to pay more for the same quantity of fuel following the newly advertised prices.

The new prices took effect from Tuesday, November 1, 2022.

The hike in fuel prices has been a major challenge for most Ghanaians as it is one of the major determinants of prices of other commodities and servicers especially transportation.

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Prices of both bottled and sachet water went up effective Monday, October31 with the National Association of Sachet and Packaged Water Producers citing increment in fuel prices and other input costs as the reasons for the upward adjustment.

Similarly, transport fares have been increased with drivers citing hike in fuel prices as the major cause.

President Akufo-Addo in his recent address to the nation on the state of Ghana’s economy alluded to same.

“I know that the increasing cost of living is the number one concern for all of us. It is driven by fast-escalating fuel prices at the pumps, caused by high crude oil prices on the world market and our depreciated currency. I know that this is putting intolerable pressure on families and businesses.”

He thus assured that “the government is working to secure reliable and regular sources of affordable petroleum products for the Ghanaian market. It is expected that this arrangement, when successful, coupled with a stable currency, will halt the escalation of fuel prices and bring relief to us all.”

 

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