Business News Tue, 18 Sep 2018

Click to read all about coronavirus →

Drivers outraged over latest hike in fuel prices

Some drivers and citizens have expressed outrage over the latest increase in fuel prices.

Starr News’ checks at some fuel stations Tuesday showed that a litre of diesel and petrol are being sold at GH¢5.18 and GH¢5.14 respectively.

The increase was in line with predictions by the Institute of Energy Securities (IES) over the weekend that fuel prices would go beyond GH¢5 to a litre based on its research on the second pricing window.

“Petrol for 5 cedis…it’s not easy. It’s just too much so at least they have to look at it. It’s not easy my brother, 5 cedis petrol. Even now we are crying and then buying petrol for 5 cedis,” a driver told Starr News’ Eric Mawuena Egbeta.

“How am I going to pay my wards school fees? How am I going to buy books for them? How am I going to offer them a better education? My brother I have siblings and relatives that I have to help but I’m going to use all the money to buy fuel,” said another.

The IES is predicting further hikes in the prices of fuel as the cedi continuous to struggle against its major trading currencies.

The cedi has recorded massive losses against the dollar, the latest being last week where it hit GH¢4.97 to the dollar. It followed a July fall where it traded at GH¢4.8250 to the dollar depreciating cumulatively, by 5.3 per cent in the first six months, compared to 3.3 per cent in the first half of 2017 despite significant increments of weekly dollar sales to local banks in the country.

Source: starrfmonline.com

Send your news stories to and via WhatsApp on +233 55 2699 625.

Join our Newsletter

Related Articles: