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Fuel prices go up as high as 12 percent

Oil Marketing Companies have reviewed their prices in different contrasting  manner in the petroleum price-review window today.

Though energy analysts predicted a 6 percent increment earlier today, the price increases which were initiated by a 7% depreciation of the cedi, saw OMCs increase their prices as high as 12 percent, while others maintained their prices. is yet to see  an OMC who have decreased their prices under the current price-review window.

Shell Ghana, who effected the highest increment, increased the prices of petrol from GHC3.310 per liter to GHC3.490, representing a 12 percent increase, and the price of diesel from GHC2.898 to GHC 3.00 representing 3.5% increament.

Allied Oil increased the price of petrol from GHC 3.210 to 3.350 representing a 4.4% increment. The price of diesel remained the same.

Ghana Oil Company, who before this  price review window were charging the lowest prices for their petroleum products, maintained their prices.

An attendant at East Legon Shelll who spoke to Pulse Businesssaid customers were not fussing about the price increments as they have started getting used  to the introduction of the full petroleum deregulation policy.

When asked about how the policy was breeding competition, the attendant said,
” Some of the customers don’t really care what your price is. They are loyal to the brand. It is the commercial drivers, that is  taxi and bus drivers, who like to fish around for the best prices.”

Some customers at the Shell Fuel station demanded an explanation as to why shell had increased its prices as high as 12 percent.

This is a sentiment  being echoed by more consumers because the price of oil on the international market have fallen fro $45 last week to $42.5 this week.

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