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Ghana hikes fuel prices

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Fuel_stationThe Ghana government today announced it has increased the prices on fuel between 15-20%

The new prices take effect Sunday February 17, 2013, according to a statement signed by the Chief Executive of the National Petroleum Authority Alex Mould, reports myjoyonline.com February 16, 2013.

“The maximum indicative price for a litre of petrol will be GH¢2.0496 (GH¢9.22 per gallon) and the maximum indicative prices for a litre of diesel will be GH¢2.0683 will (GH¢9.31 per gallon)” it quoted the statement as saying.

Kerosene will now sell at 104.65 pesewas per litre, a 15% rise while LPG will go for 194.85 pesewas per litre or GH¢24.36 per a 12.5 kg cylinder, according to the report. The LPG price is increased by 50%.

The statement said the new prices are based on the crude oil price of $116 per barrel and an exchange rate of GH¢1.89/USD.

By Ekow Quandzie

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  1. The pesewas on the prices may cause transaction to be difficult.. It should be approximted to the nearest GH cedis…if possible.

  2. Good and it should have come much sooner because it was benefiting the RICH not the poor. Ghanaians should come to Europe, North America and other countries see for themselves how expensive is gas instead of cheap gas wastefully by government staff, parliamentarians, Rich folks instead of using subsidies to help improve Mechanized Agriculture, Rail, Roads, Water, Sanitation, Housing for the poor including Health.

  3. Gas is still cheap in Ghana and why these leaders were subsidizing gas was for their own selfish gain. Government should earn from each litre pump from taxes. Hopefully the government will not give this money to TOR or pay salaries of defunction refinery which should be 50, 50 with public paticipation in managing the operation of TOR to eliminate mismanagement as well as all inefficiencies.

  4. It makes economic sense to increase the prices of petroleum prices through the removal or reduction of subsidies but the question is, whether our greedy politicians will channel the gains into building the economy and provision of more social facilities for the poor and vulnerable!