Prices of fuel to go high in January – Research Analyst Fritz Moses

Prices of fuel to go high in January – Research Analyst Fritz Moses

The first pricing window of January 2022 will see a little hike in gasoline prices at the pump. Prices of fuel to go high in January – Research Analyst Fritz Moses.

This is due to an increase of 8.18 percent in the price of International Benchmark-Brent oil and the cedi’s dismal performance against the dollar.

This also implies that domestic petrol prices could rise by at least GHp18 or 2.8 percent.

“For the January First Pricing-Window, the 8.18% increase in the price of the International Benchmark- Brent crude, the 3.25% increase in the price of Gasoline, the 2.09% increase in Gasoil price, the 0.5 percent depreciation of the cedi against the US Dollar and the reintroduction of the PSRL; the Institute for Energy Security (IES) projects for the price of fuel on the domestic market at the various pumps to increase by at least GHp18, representing a 2.8% increase,” part of a statement from IES signed by Research Analyst Fritz Moses has said.

This is worrying news for commercial and individual drivers in the country, who have been protesting the country’s recent high fuel prices.

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