Ghana: Fuel Prices Up!

Government, through the National Petroleum Authority (NPA) has announced a 15 to 20% increase in the cost of petroleum products.

The new prices will take effect from Sunday, February, 17, 2013.

A statement signed by the Chief Executive of the NPA Alex Mould said per the new prices, petrol will now be sold at GHS9.22 up from the previous GHS7 cedis.

"The maximum indicative price for a litre of petrol will be GHS 2.0496 (GHS9.22 per gallon) and the maximum indicative prices for a litre of diesel will be GHS2.0683 will (GHS9.31 per gallon)," the NPA boss said. 

Kerosene is also up by 15% and will be selling at 104. 65 pesewas per litre.
LPG is also up by 50% and will be selling at 194.85 per litre or GHS24.36 per a 12.5 kg cylinder.

The statement added that the workout above indicates government has maintained some subsidy on the prices of petroleum products.

It further mentioned that the new prices are based on the crude oil price of $116 per barrel and an exchange rate of GHS1.89/USD.