Fuel prices in Ghana are expected to see mixed adjustments from April 16, according to projections by the Chamber of Oil Marketing Companies.
Diesel prices are projected to decline by nearly four percent, with a litre likely to sell around 18 cedis 50 pesewas, while petrol is expected to rise by about two percent to approximately 15 cedis 24 pesewas. Liquefied Petroleum Gas is also forecast to increase marginally.
The Chamber attribute the relatively moderate changes to government intervention, which includes absorbing part of the cost of diesel and petrol to cushion consumers.
Despite this, global oil prices continue to trend upward, driven by supply uncertainties linked to tensions around the Strait of Hormuz, alongside a slight depreciation of the cedi.
Meanwhile, the National Petroleum Authority has set new minimum price floors for the pricing window, urging oil marketing companies to comply.
Final pump prices, however, will vary across outlets depending on market conditions and existing stock levels.