Business News Wed, 2 Oct 2019

Price of Fanyogo, FanIce increased

The price of Fanyogo and FanIce have been increased effective 1 October 2019.

The price for Fanyogo and Fanchoco which was formally sold at GHS1.00 will now sell at GHS1.20p, while the price for Fan Ice 250ML goes for GHS5.00.

The increment comes at a time the Public Utilities Regulatory Commission (PURC) announced a 5.94 per cent increase in electricity tariffs and 2.22 per cent for water.

The PURC explained that the following factors were considered in computing the automatic adjustment formula for the increase: The Ghana Cedi-US exchange rate, inflation, the price of crude and natural gas, fuel mix (crude, oil and natural gas), generation mix (hydro and thermal), power purchase cost and electricity cost (a major cost component in water production).

Transport fares were also last month increased by 10 per cent following the hike in fuel prices.

Source: classfmonline.com