Some Oil Marketing Companies (OMCs) have begun implementing upward adjustments in pump prices as the first pricing window of June takes effect.
The latest increases are being driven by rising international petroleum product prices and the recent depreciation of the Cedi, factors that continue to exert pressure on ex-pump fuel prices.
Among the early movers is Star Oil, which has increased its petrol price to the National Petroleum Authority’s approved price floor of GH¢15.20 per litre, up from GH¢14.60 per litre in the second pricing window of May.
This represents an increase of 60 pesewas per litre, or 4.1%. Star Oil’s Ron 95 price has also risen from GH¢15.49 to GH¢15.77 per litre, translating into a 28-pesewa increase, or 1.8%. Diesel prices, however, remain unchanged at GH¢15.81 per litre.
At GOIL service stations, petrol is currently retailing at GH¢15.20 per litre compared to GH¢14.60 per litre on May 29, reflecting a 60-pesewa increase or 4.1%.
Diesel XP has declined slightly to GH¢16.50 per litre from GH¢16.66 per litre, representing a reduction of 16 pesewas or about 1%
Checks by Citi News and Citi Business News on Monday morning at Shell and TotalEnergies outlets showed petrol selling at GH¢15.60 per litre.
At Shell, this is up from GH¢14.99 per litre recorded on May 29, representing an increase of 61 pesewas or 4.1%.
Diesel prices remain unchanged at GH¢16.99 per litre.
Similarly, TotalEnergies has increased its petrol price from GH¢14.99 to GH¢15.60 per litre, also reflecting a 61-pesewa increase or 4.1%, while diesel has edged up marginally from GH¢16.95 as of May 29 to GH¢16.99 per litre.
The latest adjustments mirror developments on the international market, where refined petroleum product prices have recorded increases.
The weakening of the Cedi against major trading currencies has further compounded pricing pressures for importers and marketers.
More OMCs are expected to review their pump prices in the coming days as the first pricing window of June progresses.
At a minimum, marketers currently selling below the NPA-approved price floors are expected to adjust their prices accordingly.
For the first pricing window of June, the NPA has set the petrol price floor at GH¢15.20 per litre, diesel at GH¢15.49 per litre and LPG at GH¢13.48 per kilogram.
Source: citinewsroom.com
