Fuel Importers in Ghana are to reduce fuel price soon, This is a result of meetings with the Bank Of Ghana concerning fuel reduction which yielded positive results.
Fuel prices are to be reduced soon as the Bank of Ghana and bulk importers of fuel have held meetings on strategies to reduce the prices of fuel.
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Measures Taken To Reduce Fuel Prices
- It has been agreed that some forex will be pumped into the petroleum sector. This move is expected to subsequently halt the depreciation of the cedi which has had a direct impact on the prices of fuel in the country.
- Government is also expected to scrap some taxes on fuel commodities
- As confirmed by the Chamber of Bulk Oil Distributors (CBOD), a representative of bulk petroleum importers and exporters, talks with the central bank have resulted in the release of $160 million to the energy sector to stabilize the cedi depreciation and subsequently reduce fuel prices.
- Due to this the price of petrol and other fuel commodities are likely to be reduced soon
Fuel Prices In Ghana Today
- The prices of petrol and diesel currently is almost GH¢10 per liter
- Fuel buyers also pay up to GH¢1 as tax on a liter of fuel
About Fuel Prices In Ghana Today
Reasons For Fuel Price Increments
- The Russian-Ukraine war has led to increases in the price of crude on the global market
- Also Ghana’s depreciating cedi and the several taxes on fuel has contributed to increases in the price of fuel in Ghana.
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