Petroleum prices likely to increase again this week – Petroleum consumers

The price of petroleum products are likely to go up by three percent in the first pricing window in June.

This is according to the Chamber of Petroleum Consumers.

The comment follows a rebound in the global oil market price of crude oil which is now trading around 50 dollars a barrel.

The prices of petroleum products have been increasing for some time now. The latest review saw an increase of about three percent in the prices of petroleum products.

Though the Executive Secretary of the Chamber of Petroleum Consumers, Duncan Amoah contends that smaller OMCs are likely to be affected with the marginal increase, he is optimistic the prices will not go beyond the three percent mark.

“World market indexes have inched up a little more, the cedi hasn’t performed as it would have within the past few weeks. It is likely that prices will go up by Wednesday…we do not expect it to go beyond three percent. The Ghanaian wouldn’t expect too much of an increase and even if there is an increase, we would wish that prices would have stayed at current levels but the smaller OMCs would complain of system losses,” Duncan Amoah stated.

But checks by Citi Business News across some OMCs within the nation’s capital show that consumers are likely to pay about 3 cedis 60 pesewas for petrol and 3 cedis 50 pesewas for diesel at least the major OMCs.

For Total and GOIL, the price of a litre of petrol could be selling at 3 cedis 60 pesewas while diesel could be sold to you at 3 cedis 50 pesewas.

Shell, whose prices are currently selling at 3 cedis 51 pesewas and 3 cedis 41 pesewas for petrol and diesel respectively are likely to be sold to you at 3 cedis 61 pesewas and 3 cedis 51 pesewas per litre respectively.

Champion Oil’s prices are currently 3 cedis 49 pesewas and 3 cedis 39 pesewas for petrol and diesel respectively.

Granted there is a three percent increase, this could be sold to you at 3 cedis 59 pesewas and 3 cedis 49 pesewas respectively.

AP oil, will be selling its products to you same as Shell which is 3 cedis 61 pesewas for a litre of petrol and 3 cedis 51 pesewas for a litre of diesel.

Meanwhile Engen oil is likely to be offering one of the lowest retail prices of petrol on the market.

Currently, a litre of petrol is selling at 3 cedis 45 pesewas while a litre of diesel is selling at 3 cedis 41 pesewas.

This would translate into a price of 3 cedis 55 pesewas for a litre of petrol while diesel will be selling at 3 cedis 51 pesewas per litre.

Similarly, Puma Energy could be offering the lowest price of diesel on the market as the product is currently selling at 3 cedis 39 pesewas likely to be sold to you at 3 cedis 49 pesewas.

Meanwhile, a litre of petrol at Puma Energy could be sold to you at 3 cedis 47 pesewas per litre.

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By: Pius Amihere Eduku/citibusinessnews.com/Ghana