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    6th Ghana CEO Summit to focus on digital leadership for the digital economy

    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

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    6th Ghana CEO Summit to focus on digital leadership for the digital economy

    We want Ghanaians to own 30% of MTN Ghana shares by end of 2022 – GROUP CEO

    Ghana’s 2022 economic outlook to remain positive; GDP projected to grow by 5.3% – AfDB report

    African governments tasked to look within the continent in their bid for transformation

    COCOBOD closes purchases for 2021/2022 main crop cocoa season

    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

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    6th Ghana CEO Summit to focus on digital leadership for the digital economy

    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Value of MoMo transactions decrease by 3% between March and April 2022

    Inflation rate likely to drop to single digits in 2023 – Dr. Ernest Addison

    Monetary Policy Rate increased again by 200 basis points; now at 19%

    Government partners private companies to mine abandoned iron ore in Oti Region

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    Government to invest heavily in internet safety – Ursula pledges

    Ho Node Hub rebrands as Node Eight

    Elon Musk strikes deal to buy Twitter for $44bn

    Block chain’s success will depend on supportive policy environment – Prof. Quaynor

    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

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    Standard of cars assembled in Ghana will not be compromised – GSA assures

    GUTA urges gov’t to get other countries to open their borders to facilitate trade

    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

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South Africa:Motorists in for stiff petrol price hike

bycitibusinessnews
June 17, 2016
in Africa, Southern Africa, Top Stories
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Ongoing oil strength, with limited support from the exchange rate, has set the stage for further increases in the fuel price, the Automobile Association (AA) warned on Friday.

Commenting on unaudited mid-month data released by the Central Energy Fund, the AA said the data predicts a rise of up to 27 cents a litre for petrol and 61c/litre for diesel. Illuminating paraffin is also under pressure, with the data currently showing a 60c rise.

The AA warned that economic shocks which weaken the exchange rate could worsen the picture by month-end.

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The association said the stronger rand/dollar exchange rate has not been enough to counter the rise in world oil prices, “giving a risk of substantial fuel price hikes at the beginning of July”.

On June 1 the pump price for all grades of petrol went up by 52c/l and in May motorists had to fork out a whopping 88c and 86c respectively for 95 ULP and LRP and 93 ULP and LRP.

The price of petrol has already gone up by 152c since March this year.

The main reasons for the spike are the continued upward march of international petroleum prices and the weakening rand/US dollar exchange rate.

On Friday just before 10:00 the rand was trading at R15.23/$, while Brent Crude Oil was trading at $47.82/barrel.

With the cold of winter having set in, people who use paraffin for heating and cooking are poised to experience a sharp jump in their energy costs, along with a rise in transport-related costs, the AA cautioned.

It advised South African motorists to reconsider their driving patterns and car sharing habits to economise, should the current run of fuel price hikes continue in the medium term.

–

Credit: Fin24

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