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Business News Thu, 3 Mar 2022

Energy analyst advises consumers to buy fuel from cheaper filling stations

Fuel consumers to pay more for fuel

Fuel now selling at GH¢8.29

Global oil prices affecting fuel prices


Energy analyst, Kojo Poku, has cautioned patrons of fuel products to patronize from much cheaper filling stations.

Within the first two months of this year, fuel prices have increased by over 30 percent and currently selling at GH¢8.29 across various pumps.

He was speaking on JoyNews’ The Pulse on Wednesday, March 3 2022.

Mr. Poku stated that fuel is a deregulated market “so we should always try and look out for the cheapest filling station to buy from.

"The oil market will not correct itself because deregulation is not working well enough for the market to correct itself.

“There are some filling stations that will sell a little bit below ¢8.29 so anytime you take the TOTAL price there are some indigenous filling stations or OMCs that would sell 30p to 40p cheaper than TOTAL,” Energy analyst explained.

He continued, “Most people will say that government should reduce taxes and then the 30p, 40p that government will take out of the taxes, you are already having that at the pump so you have to look around and shop.”

Meanwhile, the Russian-Ukraine crisis has resulted in an increase in global oil prices as a barrel of oil has surpassed US$100.

This, according to the market analyst is expected to increase should the crisis persist.
Source: www.ghanaweb.com
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