Consumers are advised to fill their Liquified Petroleum Gas (LPG) cylinders before October 16 to avoid a potential 6% price increase in the next pricing window. This expected hike is attributed to rising global prices and a weakened Ghanaian cedi.
Recent crude oil price surges, driven by the ongoing Middle East conflict between Israel and its rivals, are also influencing the expected rise in LPG prices. Last week, crude oil prices recorded their highest weekly jump since January 2023, as markets await Israel’s potential response to an Iranian missile attack. There is speculation that Israel may target Iran’s energy infrastructure, further pushing petroleum futures upward.
Gabby Kumi, Vice-President of the LPG Marketers Association of Ghana, confirmed the upcoming price increase but dismissed suggestions that it is linked to the recent intermittent gas shortages in parts of the country. He emphasized that the hike is driven by global market conditions.
Additionally, other petroleum products such as gasoline (super) and diesel could also see price increases after a steady decline over the past four pricing windows.
Rising LPG prices are pushing many consumers away from clean energy alternatives, leading them to rely on dirtier forms of fuel, such as charcoal and firewood. Moreover, it is becoming increasingly common for people to purchase smaller volumes of LPG than their cylinders can hold, as the cost of fully filling them is beyond the means of many users.
