General News Thu, 1 Aug 2013

Fuel prices go up; premix hardest hit

The National Petroleum Authority (NPA) has increased the prices of some petroleum products with premix fuel recording the highest increment.

This the Authority said is in line with the government of Ghana's policy directive to achieve full pass-through petroleum product prices.

Premix fuel which was selling at 66.82 GHp/lt increased by 19.94% as the pump price goes up to 80.14 GHp/lt.

A statement issued by the NPA and signed by its Chief Executive, Alex Mould said the review of the maximum indicative prices of petroleum products takes effect from Thursday, August 1, 2013 at 6:00 am.

The Authority explained that since the last adjustment of the pump prices of petroleum products on July 17, 2013, prices of petroleum products have experienced volatility on the international market.

It said the Price of Brent (DTD) crude oil has been increased from USD105.87/bbl to USD109.08/bbl, representing a 3.04% increase.

However, the prices of Petrol (premium) and Diesel (gas oil) remained unchanged "although international prices have gone up 5.6% to 2.1% respectively," the NPA said. The price of Unified was also not affected.

But Kerosene which was sold at 115.03 GHp/lt will now sell at 124.79 GHp/lt indicating an 8.41% increase.

MGO Local will now sell at 196.85 a jump of 11.85% from 176.00.

RFO has also gone up from 100.58 to 104.70. LPG recorded a difference of 3.39%; the current price will be 219.55kg from 212.35kg.

The next review date will be on August 16, 2013.

Source: joyonline