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Fuel prices in Ghana have exceeded 14 Cedis per litre, marking a significant increase for petroleum consumers.
This surge comes after the National Petroleum Authority (NPA) opted to suspend the Price Stabilization and Recovery Levy on petroleum products, resulting in higher costs for consumers.
The NPA’s decision, outlined in a directive dated April 3, 2024, and distributed to stakeholders in the oil marketing and distribution sector, includes the application of additional charges.
These charges amount to 16 pesewas per litre for Petrol, 14 pesewas per litre for Diesel, and 14 pesewas for every kilogram of Liquefied Petroleum Gas (LPG).
In response to the NPA’s directive, the state-owned Oil Marketing Company, GOIL, has adjusted its prices. As of April 4, 2024, petrol is retailing at GH¢14.15 per litre, while diesel is priced at GH¢14.74 per litre.
The suspension of the Price Stabilization and Recovery Levy, coupled with the additional charges imposed by the NPA, has led to a notable increase in fuel prices across Ghana.
This development is expected to impact consumers who rely on petroleum products for various aspects of their daily lives.
