General News of 2013-02-16

Fuel prices go up today

Government has announced a 15 to 20 per cent increase in fuel prices today.

Petrol will now be sold at GHS9.22 per gallon up from the previous GHS7 cedis.

A statement signed by the Chief Executive of the National Petroleum Authority (NPA), Alex Mould, says the new prices will take effect from Sunday, February, 17, 2013.

"The maximum indicative price for a litre of petrol will be GHS2.0496 (GHS9.22 per gallon) and the maximum indicative prices for a litre of diesel will be GHS2.0683 (GHS9.31 per gallon)," the statement said.

Kerosene is also up by 15 per cent and will be selling at 104.65 pesewas per litre.

LPG is also up by 50 per cent and will be selling at 194.85 pesewas per litre or GHS24.36 per a 12.5 kg cylinder.

The statement said the new prices are based on the crude oil price of $116 per barrel and an exchange rate of GHS1.89/USD.

It the said the workout above indicates that government has maintained some subsidy on the prices of petroleum products.