Motorists across Ghana are expected to pay more for fuel from Wednesday, July 16, following projections of an upward adjustment in pump prices by Oil Marketing Companies (OMCs).
Industry estimates indicate that the price of petrol could increase to about GH¢14.52 per litre, while diesel is expected to sell for around GH¢16.00 per litre, reflecting the latest pricing window.
The anticipated increase has been attributed to rising global crude oil prices and changes in market conditions, which have pushed up the cost of importing petroleum products. Industry analysts say fluctuations in international oil prices, coupled with movements in the cedi-dollar exchange rate, continue to influence fuel pricing in Ghana.
The expected adjustment is likely to increase transportation costs and operating expenses for businesses that rely heavily on fuel. Commercial transport operators may also review transport fares if the higher fuel prices remain in place for an extended period.
The latest projection comes after several pricing windows that saw relative stability at the pumps. However, recent developments in the global energy market have reversed that trend, prompting expectations of another increase in retail fuel prices.
Industry observers say consumers should expect the new prices to take effect once Oil Marketing Companies begin implementing the revised rates at filling stations nationwide.
The development is expected to be closely monitored by households, transport operators and businesses, as fuel prices remain a key driver of inflation and the overall cost of living in the country.