Across several oil marketing companies, petrol and diesel prices saw noticeable changes, with a few stations delivering minor reductions as a faint reprieve in the first pricing window of December 2024
The new average price for petrol now stands at ₵14.16, a notable increase from ₵13.80 just three months ago. For the average motorist, filling the tank of a standard vehicle now costs an eye-watering ₵708.00, a figure that paints a grim picture of the financial burden on the everyday Ghanaian.
Shell, a market leader, has adjusted its petrol price upward to ₵14.99 from the previous ₵14.82, while diesel now sells at ₵15.72, reflecting a slight increase from ₵15.66.
TotalEnergies followed a similar trajectory, with petrol rising from ₵14.80 to ₵15.30 and diesel climbing from ₵15.60 to ₵15.80. Players such as Petrosol have joined the trend, with petrol moving from ₵14.49 to ₵14.69 and diesel from ₵15.39 to ₵15.69.
So Energy recorded one of the most significant hikes, as petrol jumped from ₵14.00 to ₵14.80 and diesel surged from ₵14.40 to ₵15.10.
While most companies raised their prices, GOIL offered a flicker of relief. Its diesel price saw a marginal reduction from ₵15.45 to ₵15.34, though petrol remained unchanged at ₵14.35.
These adjustments have sparked concerns among consumers and industry watchers, especially given recent developments that suggested fuel prices could drop or at least remain stable.
Globally, crude oil prices have been relatively steady in recent weeks, providing a basis for expectations of price stability. Moreover, the Ghanaian cedi has shown signs of resilience, with its rate of depreciation slowing and even registering slight appreciations against major trading currencies.
These factors had fueled optimism that fuel prices would reflect these positive economic indicators.
The reality, however, has dashed those hopes. The sharp increases in petrol and diesel prices come at a time when households are already grappling with rising inflation and economic challenges. For businesses, the impact is even more severe, as higher transportation and production costs inevitably translate into increased prices for goods and services, compounding the financial strain on consumers.
