Fuel Prices May Shoot Up By The End Of October – NPA

Reports from National Petroleum Authority (NPA) suggest that the price of fuel may increase to ¢6.86 per liter at the pumps if nothing is done about the factors causing the price to change.

Head of Pricing at NPA, Abass Ibrahim Tasunti says the second price of the window of October increases the price of petrol to ¢6.84 per liter same as diesel too may increase to ¢6.86 per liter starting on 16, October 2021, revealing any changes on the oil market.

If these upcoming projections do not take into account, The margins of oil marketing companies and bulk distribution companies, May affect the projected amount to shoot high whiles statutory taxes and margins remain the same.

“All things being equal, for the next window, [since] the price of petrol on the world market has increased by about 9% and diesel has increased by about 10%, so these two, holding everything constant will project that petrol will increase by about 5% and diesel also increase around the same figure which will take us to about GH¢6.84 for petrol and GH¢6.86 for diesel… This is the next window, which starts from the 16th of October,” He revealed this on Citi TV’s show The Point View.