Ghanaians are having to deal with increases in the prices of petroleum products at the pumps.
Oil Marketing Companies (OMCs) have thus increased the price of their products. As of Monday, October 17, 2022, the OMCs were selling petrol per litre for ¢13.10, from the previous price of ¢11.10, about 16 per cent increase.
Diesel per litre has shot up to about ¢15.99, from the previous price of ¢13.90.
The price of Liquefied Petroleum Gas (LPG) is expected to go up by about 10%.
Note also that the prices of petroleum products may be lower than the above prices at the pump at some OMCs as a result of competition.
In a related development, the Institute for Energy Security (IES) had projected that fuel prices were expected to go up at the pumps from Sunday, October 16, 2022.
This was due to the increases in price of the products on the international market, and the significant decline in the value of the local currency against the American greenback or US dollar.
Meanwhile, the national communications officer of the National Democratic Congress, Sammy Gyamfi, has wondered why Vice President Mahamudu Bawumia, who chairs the economic management team of the Akufo-Addo government and was once touted as Ghana’s ‘economic messiah’, is nowhere to be found despite the current economic woes.
Inflation is hovering around 37 per cent while the cedi is selling at more than GHS12 to the US dollar.
Gyamfi took to Twitter to bemoan the current economic situation and wondered why the Vice President has not said anything yet.