Several Oil Marketing Companies (OMCs) have started increasing fuel prices at the pumps with the onset of the first pricing window in October. This marks the first price hike after four consecutive declines since August.
Shell has raised fuel prices petrol (FuelSave Super) from GHS 13.49 per litre in the second pricing window of September to GHS 13.79. Similarly, the price of diesel (FuelSave Diesel) has increased from GHS 13.99 to GHS 14.35 per litre.
Market analysts attribute this increase to international factors, including escalating tensions in the Middle East and fluctuations in the price of refined petroleum products—petrol prices have risen by 1.09%, while diesel has seen a decrease of 1.67%. Additionally, the depreciation of the Cedi against major currencies like the US dollar has contributed to the adjustments. More OMCs are expected to follow suit with price increases in the coming days.
Source: DEW360.NET
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