Connect with us

BUSINESS NEWS

Fuel prices goes up again by 3 percent

Published

on

 

Consumers of petroleum products will be paying slightly higher prices for the fuel purchase

•Fuel prices have gone up slightly in 2nd pricing window of June 2021

•The increase has been attributed to rising prices of commodities on the international market

•COPEC has called on govt to work on shielding consumers from such increments

The Chamber of Petroleum Consumers (COPEC) has said the country has seen a 3 percent surge in fuel prices in the second pricing window for June 2021.

According to the Executive Secretary of COPEC Duncan Amoah, the increment has been blamed on the increase in the price of the commodity on the international market.

Speaking to GhanaWeb, Mr Amoah raised concerns on the need for measures to be put in place to halt the recurring increment.

“Fuel prices have been increased again. This time by 3 percent. The authorities say there is a rise in the price of the commodity on the international market. Fuel prices keep rising and this must stop. This must stop,” he told GhanaWeb.

This new price comes a few weeks after prices at the pumps in Ghana shot up by 12% due to the introduction of some taxes, increases in margins by the National Petroleum Authority, the industry as well as price increases on the international market.

Following an agitation by citizens, the National Petroleum Authority rescinded its decision to increase the fuel margin to 17 pesewas per litre.

In a communique dated May 4, NPA revealed that “the 17 pesewas per litre increase in fuel margins previously announced by the NPA has been reduced to 9 pesewas per litre effective Wednesday 5th May 2021.”

The surge in fuel prices has also received several backlashes from some Ghanaians expressing frustration with the new fuel prices.

In the early hours of today, Sunday, June 19, 2021, some major Oil Marketing Companies started adjusting fuel prices upward at the pumps to reflect the new regime.

Below are some tweets expressing displeasure at the increment of fuel price;

 

Source: www.ghanaweb.com

Trending

Copyright © 2021, The Press Radio Multimedia

struc