Oil Marketing Companies have begun increasing the prices of petroleum products at the pumps from July 17, 2023.

GOIL is currently selling petrol and diesel at GH¢12.40 and GH¢12.45 respectively.

Total has also adjusted its prices upward to sell at GH¢12.45 from the earlier GH¢12.30.

Shell is also selling a litre of diesel at ¢12.45 from the previous price of ¢12.30 for a litre of diesel and ¢12.40 for a litre of petrol.

The price adjustments were not exactly expected as key indicators did not see any substantial changes in the last few weeks.

However, some of the OMCs have attributed the price increases to the slight depreciation of the cedi to the dollar in recent times.

The increase in fuel prices could hurt inflation as it saw a slight increase in June.

SSD/NOQ

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