Fuel prices up by about 6%

JOY BUSINESS has gathered the price of major petroleum products at the pumps have been increased between 1 and 6%.

The price of Premium/Petrol has been increased by 1.71%, Gas Oil/Diesel by 1.27% and LPG by 6.18%. The price changes, however, take effect today.

This comes after the latest price review by the National Petroleum Authority, to reflect world market trends which saw the average prices in the last two weeks exceed the allowable threshold.

This is in line with the government's resolve not to interfere with the Authority’s bi-monthly review by way of subsidies for consumers.

The last of such review was carried out on July 1, 2013, and officials have said, this was not publicized because there was no significant price change.

Meanwhile, Transport Minister, Dzifa Ativor has been meeting transport operators to fashion out ways of managing the implications of the increases for transport fares.

JOY BUSINESS has learnt the stakeholders resolved to hold on with any increases in fares until next week after taking into consideration other cost factors.