The Daily Graphic reports that prices of petroleum products are expected to go up very soon, when the President appends his signature to the Customs and Excise (Petroleum Taxes and Petroleum Levies (Amendment) Act.

The Graphic in a front-page story, says that the increase will, however, not be significant, quoting Mr Isaac Tagoe, Director of Petroleum at the Ministry of Mines and Energy, who is said to have disclosed in an interview in Accra.

Parliament last Friday, approved an 80-cedi increase in the road fund levy on petroleum products, and with this increase every litre of petroleum product bought by the consumer, will attract a levy of 230 cedis instead of the current 150 cedis, towards the road fund.

The story says that Mr Tagoe could not give the exact percentage increase since prices of crude oil on the world market have gone up since the last increase in December 1999. He is said to have explained that any future increase will take into account the price levels on the international market.

The current prices are 1,180 cedis per litre for petrol, 1,100 cedis for diesel while the ex-depot price for unified oil is 1,060 cedis per litre. The levy is collected by the oil companies on behalf of the government for the maintenance and rehabilitation of roads in Ghana.