The impending petroleum price increase will affect all products including gasoline and Liquefied Petroleum Gas (LPG). Special Assistant to Energy Minister, Kwame Owusu says it will be strategically inappropriate for government to announce the date for the implementation of the price hikes in petroleum products until the d-day itself.
Even though he declined to announce the increase, the Business and Financial Times has learnt that the price of gasoline is likely to go up to ?17,500 from the current price of ?10,500 (an increase of 66%) while the price of diesel will be about ?14,000.
The announcement of the new prices is expected by mid February, a fortnight before the presentation of the budget and fiscal statement.
Mr Owusu however said government has completed negotiations with the various stakeholders and would soon announce the new prices. He also noted tat efforts are underway to hold in check the seasonal hoarding of fuel in anticipation of price increases.
The impending petroleum price increase will affect all products including gasoline and Liquefied Petroleum Gas (LPG). Special Assistant to Energy Minister, Kwame Owusu says it will be strategically inappropriate for government to announce the date for the implementation of the price hikes in petroleum products until the d-day itself.
Even though he declined to announce the increase, the Business and Financial Times has learnt that the price of gasoline is likely to go up to ?17,500 from the current price of ?10,500 (an increase of 66%) while the price of diesel will be about ?14,000.
The announcement of the new prices is expected by mid February, a fortnight before the presentation of the budget and fiscal statement.
Mr Owusu however said government has completed negotiations with the various stakeholders and would soon announce the new prices. He also noted tat efforts are underway to hold in check the seasonal hoarding of fuel in anticipation of price increases.
