OMCs review prices at pumps

Some of the Oil Marketing Companies have started reviewing their prices at the pumps in line with the expected changes in prices of petroleum products every two weeks.

Already, Shell one of the biggest players in the oil marketing industry has adjusted its prices: Petrol has gone by a little over 1%.

This should mean that, a gallon of the commodity is now going for 15 Ghana cedis 07 pesewas, instead of the initial price of 15 Ghana cedis 26 pesewas.

Diesel has however gone up by a little over 1.2 percent. With this change a gallon of diesel will now be sold at 14 Ghana cedis 35 pesewas.

Sources say another giant in the industry Goil has also reviewed its prices by a similar margin.

General increase in prices of petroleum products have been influenced by the marginal jump, recently, in prices of crude oil on the world market.

Diesel is expected to go up by some 3% and according to those who import the product, the increase is coming about because of the price of the product on the international market has gone by some 9%.

However, because of the cedi’s stability consumers are not likely to see the same margin of increase on local market.

For consumers of petrol or Super they will only see the price of the product go by some just one percent.

LPG will however not witness any increase because changes on the world market are somehow negligible.

But because of the recent deregulation policy, prices at the various service station may differ from one to the other.



Source: myjoyonline