Oil Marketing Companies (OMCs) have started adjusting the prices of some petroleum products at the pumps to reflect current market conditions.
Market leader GOIL is selling a litre of petrol at GH₵15.22 from the previous price of GH¢13.81.
Where as Liquefied Petroleum Gas (LPG) prices have fallen by 6.56% per metric tonne.
Diesel prices have also dropped to GH₵13.99 per litre from the previous GH₵14.65.
These changes translate to a 10% increase in petrol and a 5% decrease in diesel.
Conversely, Star Oil has reduced all petroleum products on the market.
Petrol is selling at GH₵13.99, while diesel is going at GH₵13.97.
According to some of the OMCs, the adjustment was influenced by rising crude oil prices on the international market and the depreciation of the cedi.
Some market analysts earlier predicted that petroleum product prices would stabilise at the pumps due to current developments in the global market.
The increase in petrol prices particularly could push transport operators to begin a fresh round of negotiations to increase fares.
The Institute for Energy Security (IES) predicted stability in prices.
The IES projection was based on a reduction in the price of diesel and Liquified Petroleum Gas (LPG) on the international market, while there was a marginal increase in the price of petrol on the international market.