Prices of petroleum products have been increased by 4 percent.

The increase, however, does not affect Premix and residual fuel oil.

The development has been triggered by the rising prices of petroleum products on the world market and the depreciation of the local currency, the Cedi.

An increase of 4% is the maximum any Oil Marketing Company (OMC) can go.

They are, however, permitted to sell their products below the 4% price under the full price deregulation of petroleum products which begins today.