Fuel prices set to rise from today; but not all OMCs will follow suit

Petroleum prices are set for a slight increase today, April 2, according to JoyBusiness' latest Pricing Outlook Report.

Petrol will rise by 2% to GH¢15.20 per liter, while diesel sees a 1.1% hike to GH¢15.35 per liter. However, LPG prices will drop marginally by 0.3%, selling at GH¢17.30 per kilogram.

The primary cause of the increase is rising global crude oil prices, currently trading at $74 per barrel due to supply constraints from U.S. sanctions on Iran and Venezuela.

Interestingly, the cedi’s stability has not influenced this hike.

Some Oil Marketing Companies (OMCs) may hold prices steady due to market competition and consumer demand.

While adjustments take effect today, not all OMCs will immediately implement the new rates.