According to reports Ghanaians may as well have to pay ¢7 per litre for both petrol and diesel beginning from January 16.
This news comes following a project 40 pesewas per litre increment in petroleum products by the Institute For Energy Security.
According to the think tank which specializes energy, a 7.42% increase in the price of Brent crude since the start of the year aligned with the 0.3% depreciation of the cedi against the dollar will be the cause.
In a statement, it said “on the back of the 7.42% increase in the price of Brent crude, the 9.46% increase in price of gasoline, the 8.52% increase in gasoil price and the 0.3% depreciation of the local currency against the US dollar; the Institute for Energy Security (IES) informs consumers to remain expectant of a further increase in fuel prices at the pumps, between 30 pesewas to 40 pesewas per litre”.
“The imminent price increases, it said may force some Oil Marketing Companies (OMCs) to sell gasoline and gasoil at ¢7per litre at the pumps for the first time”, it explained.