Fuel prices up again few days to election

Some Oil Marketing Companies (OMCs) have begun adjusting fuel prices upward with the start of December's first pricing window, signaling a marginal rise in costs for consumers.

Shell has led the charge, raising prices for both petrol and diesel. Petrol, which was priced at GH₵14.82 per litre during November's second pricing window, now sells at GH₵14.99—a slight increment. Diesel has also seen an increase, moving from GH₵15.66 to GH₵15.72 per litre.

This adjustment follows a period in November when only petrol prices saw a reduction, while diesel prices remained unchanged, contrary to earlier expectations of broader declines.

The Chamber of Petroleum Consumers (COPEC) had anticipated a drop in fuel prices during November's second pricing window, citing favorable trends in global oil markets and the cedi's relatively stable performance.

According to COPEC, international petrol prices decreased from $723.03 to $676.64 per metric tonne, which initially suggested a likely reduction in local pump prices.

However, the recent adjustments by Shell may indicate a new pricing trend as OMCs respond to market dynamics four days into the current pricing window.

Source: Modernghana.com