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Fuel prices to go up by 15% effective July 1
Prices of petroleum products are expected to go up by 15% tomorrow.
sources within the oil marketing companies have attributed the impending increases to foreign exchange losses and not necessarily the increase in the prices of crude oil.
The cedi has fallen by more than 20% to other major trading currencies between January and June 2015.
This move has also been necessitated by the recently implemented full deregulation and 17.5% special petroleum tax.
sources within the oil marketing companies have attributed the impending increases to foreign exchange losses and not necessarily the increase in the prices of crude oil.
The cedi has fallen by more than 20% to other major trading currencies between January and June 2015.
This move has also been necessitated by the recently implemented full deregulation and 17.5% special petroleum tax.
This will be the third time, prices of petroleum products will be increased after the International Monetary Fund’s (IMF) three year bailout programme materialized.Prices of petroleum products initially went up by 9% in the middle of May and increased again by 4% in the middle of June this year.
Various stakeholders, after the new prices were announced, called on government to reduce the prices.
Government in a bid to cushion consumers subsequently started pegging retail prices of petroleum products at filling stations.
Various stakeholders, after the new prices were announced, called on government to reduce the prices.
Government in a bid to cushion consumers subsequently started pegging retail prices of petroleum products at filling stations.
credit: citifmonline
