Prices of petrol and diesel have seen an upward adjustment at the pumps as of Monday morning.

A litre of petrol which sold at GH¢12.65 is now selling at GH¢13.20. While a litre of diesel which sold at GH¢12.84 is now selling at GH₵13.20.

Crude has gone up by about 16 per cent on the international market.

Our checks at the nation’s leading Oil Marketing Companies (OMCs) Shell, GOIL, and Total reveal they have reviewed their prices to reflect the increment.

GOIL charges 13.10 cents per litre for petrol and 12.99 cents for diesel. Shell also charges 13.10 cents per litre for petrol, while diesel costs 12.99 cents.

On the other hand, Total sells fuel and diesel at 13.20 per litre, while Star Oil sells both petrol and diesel at 12.69 per litre.

This is the first increase since the much-touted ‘Gold for Oil’ policy was implemented.

The increment corroborates a 2.01% projection by the Chamber of Petroleum Consumers (COPEC).

COPEC said its forecast is based on the increase in international benchmark pricing from $772.75 per metric tonne to $900.20 per metric tonne, indicating a 16.49% rise. By this, the retail price of petrol works up to ¢12.41 per liter.

Meanwhile, the Institute for Energy Security (IES) also projected that domestic fuel prices were likely to see some increment at the pumps for petrol and a marginal decrease for diesel and LPG.

“On account of international market performance observed and the domestic performance of the Ghana cedi, the IES projects prices of domestic gasoil [diesel] and LPG to decrease between 5% – 9% and domestic gasoline [petrol] is forecasted to post the biggest increase of roughly 8%, in the coming weeks”.