Petroleum price goes up at the pump between 8% to 11%

January 6, 2017
Source: Norvan Acquah - Hayford/thebftonline.com/Ghana
Petroleum price goes up at the pump between 8% to 11%

Oil Marketing Companies (OMCs) in the country on Thursday, January 5, 2017, increased prices of petroleum products at the pumps by 11 percent.

The increase which is as result of some upward adjustments in the global prices of crude, the thebftonline.com has learnt is, for the first pricing window in January 2017.

Crude prices have been floating on the global market for some time now, yesterday Thursday, January 5, 2017, the Brent crude closed trading at $56.89 per barrel across the world but opened today Friday, January 6, 2017, trading at about $56.93.

On Tuesday, January 3, 2017, the US benchmark showed a gain of as much as 2.4% to selling at $55.01 per barrel, before slumping 1% to trade near $53.17 while Brent crude, the international benchmark, rose 2.3% to as high as $58.15.

The checks by the thebftonline.com, shows that the price of a litre of petrol has gone up between 8 and 11 percent while a litre of diesel has gone up between 9 and 11 percent.

Some OMCs are now selling a litre of Petrol between 4 cedis and 4 cedis 15 pesewas while the price of a litre of diesel is sold to you between at 3 cedis 99 pesewas and 4 cedis 15 pesewas.

At Goil an indigenous company listed on the Ghana Stock Exchange has recorded a price jump as petrol is now selling 4 cedis 8 pesewas from the 3 cedis 73 pesewas while diesel is sold at 3 cedis 99 pesewas.

But Shell price per litre of petrol has jumped by 31 pesewas; from 3 cedis 78 pesewas to 4 cedis 10 pesewas while Diesel has also gone up by 36 pesewas as a litre is selling at 4 cedis 15 pesewas as against the 3 cedis 79 pesewas it was sold earlier.

On their part Total is selling a litre of petrol at 4 cedis 10 pesewas as against the 3 cedis 79 pesewas it sold earlier. So the difference or the price jump was 31 pesewas.

At the same place, the price of a litre of diesel is currently selling at 4 cedis 15 pesewas from 3 cedis 79 pesewas showing an upward adjustment of 36 pesewas

The increase has been replicated in all other filling stations across the country.