Fuel Prices Go Up Again, Cross 14 Cedis Per Litre – The Highest in 14 Months

Petroleum consumers in Ghana are expected to pay more for fuel following the decision by the National Petroleum Authority (NPA) to suspend the Price Stabilization and Recovery Levy on petroleum products.

In a directive dated April 3, 2024, and distributed to various stakeholders within the oil marketing and distribution sector, the NPA instructed the application of additional charges: 16 pesewas per litre for Petrol, 14 pesewas per litre for Diesel, and 14 pesewas for every kilogram of Liquefied Petroleum Gas (LPG).

Consequently, the state-owned Oil Marketing Company, GOIL, has adjusted its prices, with petrol and diesel now retailing at GH¢14.15 per litre and GH¢14.74 per litre, respectively. GOIL implemented these adjustments effective April 4, 2024.

This recent spike in fuel prices marks the highest increase since February 2023, when a litre of fuel sold for GH¢15.40 and GH¢15.50 for diesel.

Following the reversal of the suspension of the Price Stabilisation and Recovery Levy on the price build-up of petroleum products, drivers who are already feeling the pinch of the increments have accused the National Petroleum Authority (NPA) of being insensitive.

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