Fuel prices at the pumps will see a marginal increase in the first pricing window of January 2022.
This is as a result of the 8.18% increase in the price of the International Benchmark-Brent crude as well as the poor performance of the cedi against the dollar.
This further means that fuel prices on the domestic market could go up by at least GHp18, representing a 2.8% increase.
“For the January First Pricing-Window, the 8.18% increase in the price of the International Benchmark- Brent crude, the 3.25% increase in price of Gasoline, the 2.09% increase in Gasoil price, the 0.5 per cent depreciation of the cedi against the US Dollar and the reintroduction of the PSRL; the Institute for Energy Security (IES) projects for price of fuel on the domestic market at the various pumps to increase by at least GHp18, representing a 2.8% increase,” part of a statement from IES signed by Research Analyst Fritz Moses has said.
This comes as a worrying news for both commercial and private drivers in the country who have been protesting the high fuel prices in the country in recent times.
Below is IES projections for the first pricing window of January 2022: