Total Ghana has become the first oil marketing company to price diesel above 7 Ghana cedis per litre from 6 cedis 85 pesewas.
Total Ghana, one of the leading oil marketing companies in the country, is currently selling diesel at 7 cedis 05 pesewas, Prime News’ checks on Sunday, January 16, 2022, reveal.
The price of petrol, however, is at the tip of the 7 cedis per litre mark, selling at 6 cedis 99 pesewas from 6 cedis 80 pesewas per litre
The increase is consistent with predictions by both the Institute for Energy Security (IES) and the Chamber of Petroleum Consumers (COPEC) that the price of the fuel would soon cross the 7 cedis per litre mark.
In terms of percentage, a litre of diesel at Total has gone up by 2.91 per cent per litre and 2.79 per cent for the price petrol per litre.
Other OMCs are likely to also increase their prices from tomorrow.
Fuel price increases trigger inflation (increases in the price of goods) in Ghana which contributes to economic hardship.
COPEC had predicted that prices of petrol and diesel were expected to surge by 3.7% and 2.5% respectively.
IES had predicted late last year that fuel prices are likely to hit GH¢7.0 per litre or more by December 2021.
Research Analyst at the IES, Fritz Moses, explained at the time that global demand for fuel is expected to increase in the winter and that could trigger a hike in prices globally in the wake of limited supply.
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