The cost of fuel has reached an all-time high in Ghana, with prices soaring to GH¢15 per litre. This significant price hike has left many consumers reeling, as the cost of living continues to rise.
Shell, one of the leading oil marketing companies, has increased its prices by GH¢0.30 per litre. Petrol now costs GH¢15.10 per litre, up from GH¢14.80, while diesel costs GH¢15.25 per litre, up from GH¢14.92.
Other oil marketing companies are expected to follow suit, increasing their prices soon. The Chamber of Petroleum Consumers (COPEC) had predicted a 4% increase in petroleum product prices effective July 16, 2024.
This price hike is expected to affect consumers and commuters, who may need to budget more for fuel expenses.
The increase is attributed to market forces and may continue to fluctuate based on global oil prices and other factors.
The fuel price increase has sparked concerns about the impact on the economy and households.
Many Ghanaians are already feeling the pinch of high living costs, and this latest increase is expected to exacerbate the situation.
Some commuters have expressed frustration about the constant fuel price increases, saying it affects their daily budgets.
“It’s becoming difficult to manage my transport costs,” said one commuter. “I’m not sure how much more I can take.”
The government has been urged to intervene and find ways to stabilize fuel prices. In the meantime, consumers are advised to budget accordingly and explore alternative transportation options where possible.
As the fuel price hike takes effect, Ghanaians are bracing themselves for the impact on their pockets.
With prices expected to remain volatile, it’s a challenging time for consumers and commuters alike.
Source:kofitutunews.com
