Ghanaians may soon pay a little more at the pumps, as fuel prices are expected to edge up in the next pricing window, according to reports monitored by Citi Newsroom.
Petrol prices are projected to rise by about 1.97%, while diesel could increase by 2.73% and liquefied petroleum gas (LPG) by 3.26%. Industry analysts say the expected adjustments are largely driven by the continued depreciation of the Ghanaian cedi against major international currencies, alongside rising global prices for refined petroleum products.
Energy sector experts explain that fuel pricing in Ghana remains highly sensitive to movements in the foreign exchange market because petroleum products are largely imported.
“Global price trends and exchange rate pressures continue to shape domestic fuel pricing dynamics,” analysts noted.
Why the increase may feel limited
Despite these upward pressures, consumers are unlikely to see sharp jumps in pump prices. Market watchers point to an oversupply of refined petroleum products within the local market, which is helping to cushion the impact and keep increases relatively modest.
This balance between international cost pressures and local supply levels is expected to continue influencing pump prices in the coming weeks, especially as oil marketing companies adjust prices cautiously to remain competitive.
What to watch next
Observers say fuel prices will remain closely tied to:
• movements in the cedi-dollar exchange rate,
• trends in global petroleum prices, and
• the level of fuel supply in the domestic market.
For now, motorists and households are being advised to expect only marginal increases, rather than sudden spikes, as the market absorbs ongoing economic pressures.
Mahama Says Ghana Will Self-Finance Cocoa Purchases to Boost Local Processing
Source: Africa Publicity
