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| Fuel Prices Down By 2%, Transport Fares Up 15% Effective Today |
There is also a 4% reduction in diesel with Liquefied Petroleum Gas (LPG) users enjoying the most as the commodity records a 9% decrease.
Per the reduction petrol will be selling at GH¢3.393 per litre from GH¢3.465 while diesel goes for GH¢3.151 from GH¢3.281 at some filling stations.
The Chief Executive of the NPA Moses Asaga disclosed this on a private Radio on Sunday.
According to him, the reduction was due to the Cedi’s relative stability as well as happenings on the world market.
“The FOB (Free on Board or Freight on Board) prices on the international market have remained stable because there is still more stock so there is more supply than demand as well as petroleum products are concerned, and again because the Cedi has not depreciated remarkably it has not affected the prices” he noted.
The reduction in petroleum products is coming in less than a month when fuel prices went up between 22 per cent and 27 per cent at the pumps following the passage of the Energy Sector Levy by Parliament in December 2015.
Price of Liquefied Petroleum Gas also went up by about 18 per cent.
Meanwhile, stakeholders in the transport sector in Ghana have announced 15% increased on fares effective Today, February 1, 2016
-Source GBC
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