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Fuel prices jump by 5.6% after four-month decline
Accra, Ghana - Fuel prices have increased at the pumps as the first pricing window in October commences, marking the first upward adjustment after four consecutive declines since August.
Shell, a leading Oil Marketing Company (OMC), has raised prices for petrol (FuelSave Super) from GHS 13.49 to GHS 13.79 per liter, and diesel (FuelSave Diesel) from GHS 13.99 to GHS 14.35 per liter.
Market analysts attribute the increase to global factors, including:
1. Rising Middle East tensions
2. 1.09% increase in refined petrol prices
3. 1.67% decrease in refined diesel prices (offset by other factors)
4. Cedi depreciation against major currencies like the US dollar
Other OMCs are expected to follow suit, adjusting prices upward in the coming days.
Source: Lead News Online
