Fuel prices to go up before October ends – NPA

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According to projections from the National Petroleum Authority (NPA), fuel prices in the country could rise to close to GH 6.86 per litre at the pumps if all other factors influencing pricing remain constant.

According to Abass Ibrahim Tasunti, the NPA’s Head of Pricing, the second pricing window for October sets the price of petrol at GH6.84 per litre, while diesel is expected to sell at GH6.86 per litre beginning October 16, 2021, barring any changes in the global oil market.

These projections do not account for the margins of oil marketing companies and bulk distribution companies, which may cause the projected amounts to increase while statutory taxes and margins remain unchanged.

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On Citi TV, he said: “All things being equal, for the next window, [since] the price of petrol on the global market has increased by about 9% and diesel has increased by about 10%, these two, holding everything constant, will project that petrol will increase by about 5% and diesel will also increase around the same figure, taking us to about GH6.84 for petrol and GH6.86 for diesel… “This is the next window, which begins on October 16th,”

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