More OMCs increase fuel prices at pump

More Oil Marketing Companies (OMCs)T have begun increasing fuel prices at the pumps.

It’s coming after Total and Puma increased prices of fuel by some significant margins at the pumps.

They are now selling a diesel and petrol by more than ¢11.

Also, a leading OMCs, GOIL, is now selling a litre of diesel at ¢9.90 pesewas per litre, while petrol is going for ¢9.60. 

Another major player, Shell, is selling a litre of petrol at ¢9.70 pesewas, whilst diesel is going for ¢9.99 pesewas. 

The rising fuel prices is expected to strengthen the case of the Unionized Transport Operators to increase transport fares from next week. 

This is because the Ghana Private Road Transport Union had indicated that it will increase transport fares, if fuel prices go up by more than 10% per litre this week.

Already, some energy experts are urging government to intervene in the rising fuel prices in order to cushion consumers against shocks.

One of such is the Institute for Energy Security which is appealing to government to fast-track intervention in the rising fuel prices at the pumps to cushion consumers against hardships, following an expected increase in fuel prices at the pumps beginning today, March 16th, 2022.

According to the energy think tank, the hikes in fuel prices has impacted negatively on the cost of living of consumers and households, with inflationary pressures hitting businesses in the country.

“It is rife for government to take a decision on fuel prices keeping in mind the interest of citizens with respect to quality of life. Over the past couple of years, prices of gasoline, gasoil, and Liquefied Petroleum Gas (LPG) have been subjected to constant increases at the pumps, placing financial strain on consumers and households. The hikes in fuel prices is adding to the cost of living, with inflationary pressures hitting businesses in the country.”

Source:More OMCs increase fuel prices at pump –