Some Oil Marketing Companies (OMCs) have begun implementing marginal increases in fuel prices following the start of December’s first pricing window.
Shell has taken the lead by adjusting petrol and diesel prices.
Petrol, which was sold at GH₵14.82 per litre during the second pricing window in November, now retails at GH₵14.99.
Diesel has also increased, moving from GH₵15.66 to GH₵15.72 per litre.
TotalEnergies is the latest to review the prices of the pumps.
A litre of petrol is going for GH₵15.30, while diesel is pegged at GH₵15.80 per litre.
This adjustment comes after a period in November where petrol prices experienced a slight decline while diesel prices remained unchanged, despite broader expectations of reductions for both fuels.
The Chamber of Petroleum Consumers (COPEC) had projected a drop in fuel prices during the second pricing window, citing trends in the global market and a relatively stable performance of the cedi.
COPEC’s analysis showed that international petrol prices fell from $723.03 to $676.64 per metric tonne during the period.
Some industry stakeholders have expressed concern over the recent fuel price increases, particularly as earlier projections based on industry data had suggested a marginal reduction starting December 1, 2024.
Observers note that the cedi has shown relative stability, and global crude oil prices have been on a downward trend, which should have translated into lower fuel costs.
This unexpected development has raised questions about the factors influencing the pricing adjustments.