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Fuel prices up 5%

  • SOURCE: | Editor
  • 8885814-Oil-barrels--Stock-Vector-oil-gas-barrelPrices of fuel products will go up at the pumps by 5% effective Thursday 17 March 2016, Executive Secretary of the Chamber of Petroleum Consumers Ghana, Duncan Amoah has said.


    The various oil marketing companies are yet to recalibrate the pumps to reflect the new prices, but Mr Amoah explained that “world market prices have gone up over the past two weeks from below $30 per barrel to over $36.24 per barrel as of today [16 March, 2016]”.

    “This will result in an upward adjustment of pump prices per our deregulation oil pricing system across the various bulk distribution companies”, he told Paul Ofori-Amanfo on Class FM’s 505 News.

    Based on the new prices, the current petrol price per gallon of GHS 14.72 will be adjusted to approximately GHS15.76 – a variance of about 70pesewas.

    Mr Duncan further explained: “OPEC, the world’s largest oil-producing and exporting countries are realising that continuing to pump excess amount of petroleum only brings the prices down, so, as we speak, they have moved to cut back production to force prices up.”

    He advised motorists to take advantage of the window period and fill their tanks, as the new prices will reflect by Thursday morning.

    “We are cautioning Ghanaians; for those who can, you fill your tanks before the day ends before adjustment of prices,” he stated.

    Below is the full list of bulk distribution companies and their prices after taxes and margins for the period 16-31st March 2016.

    1. Chase petroleum
    Pms Ghc 3.397075
    Ago. Ghc 3.38932
    Kero. Ghc.2.546557

    2. Juwel energy
    Pms Ghc 3.35888
    Ago. Ghc 3.358829

    3. Vihama energy
    Pms. Ghc 3.387775
    Ago. Ghc.3.376325

    4. Sage petroleum
    Lpg. Ghc 3.299458

    5. Blue ocean
    Pms. Ghc 3.387205
    Ago. Ghc. 3.387793
    Kero. Ghc. 2.444215

    6. Ebony oil
    Pms. Ghc 3.369815
    Ago. Ghc. 3.37005
    Kero.ghc 2.402335

    7. Globex energy
    Pms. Ghc.3.315495
    Ago. Ghc 3.3113

    8. SAHARA
    Pms. Ghc. 3.381565
    Ago. Ghc. 3.367348

    source: http://classfmonline.com/1.8801185

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