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.

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“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.

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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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