Fuel Prices Tick Up in Ghana as Oil Marketing Companies React to Market Trends

Ghanaian motorists are facing a marginal increase in fuel prices, just days into the new pricing window. Shell, one of the country's leading oil marketing companies, has taken the lead in adjusting its rates.

As of the latest pricing window, which commenced on December 1, a litre of petrol now costs GH₵14.99, up from GH₵14.82 previously. Diesel prices have also inched up, from GH₵15.66 to GH₵15.72 per litre.

This development comes as a surprise, given that fuel prices were expected to decline in line with trends in the international market. The cedi's relatively stable performance had also raised hopes of a price reduction.

However, the latest move by Shell suggests that oil marketing companies may be adjusting their prices in response to other market factors. As the pricing window continues, it remains to be seen whether other companies will follow suit.

Source: Lead News Online