FUEL PRICES GO UP AS OMCS ADJUST RATES AT THE PUMPS

Some Oil Marketing Companies (OMCs) have adjusted fuel prices upward in the latest pricing window, with petrol now selling at GH¢13.38 per litre and diesel at GH¢14.20 per litre.

The increases, which took effect on Tuesday, reflect recent movements on the international crude oil market as well as the depreciation of the cedi against major trading currencies. Industry analysts note that global oil prices have remained volatile, putting pressure on domestic pump prices.

Consumers have expressed concern about the development, warning that the new prices could further raise the cost of living through higher transportation fares and commodity prices.

Meanwhile, energy sector experts are calling for a review of the pricing formula and stronger interventions to cushion consumers against the frequent hikes.

The National Petroleum Authority (NPA) is expected to monitor the adjustments to ensure OMCs comply with approved pricing guidelines.