Prices of various petroleum products are likely to go up by between\u00a04% to 6% today.<\/p>\n
The two week price review window is part of the full deregulation of the petroleum downstream sector.<\/p>\n
[contextly_sidebar id=”Rs4YVMEXbulUoy4s5jyJsRrBeVZrE21e”]The increases in the prices of petrol and diesel have been largely due to the depreciation of the cedi against the dollar.<\/p>\n
The prices of petrol and diesel have been reduced in excess of 20% since July 16.<\/p>\n
This is despite the cedi’s continuous depreciation against the US dollar and other major trading currencies.<\/p>\n
The cedi has been depreciating against the dollar since July 16, the last time the prices of petroleum products were reviewed downwards.<\/p>\n
A dollar as at last week Friday was selling at 3 cedis, 90 pesewas representing a 65 pesewa depreciation of the cedi since July 17.<\/p>\n
However the price of crude on the world market for the first time in over six years tumbled to below 42 dollars a barrel before close of last week but has since edge up to 42.50 dollars.<\/p>\n
The cedi’s consistent slide against the dollar is to blame for today’s upward review in prices of various petroleum products.<\/p>\n
The National Petroleum Authority (NPA) would be expected to monitor the pricing formula of the various OMCs keenly to ensure Ghanaian are not exploited.<\/p>\n
–<\/p>\n
By: Rabiu Alhassan\/citifmonline.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"
Prices of various petroleum products are likely to go up by between\u00a04% to 6% today. The two week price review window is part of the full deregulation of the petroleum downstream sector. [contextly_sidebar id=”Rs4YVMEXbulUoy4s5jyJsRrBeVZrE21e”]The increases in the prices of petrol and diesel have been largely due to the depreciation of the cedi against the dollar. […]<\/p>\n","protected":false},"author":24,"featured_media":16512,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[],"tags":[43,38,4],"class_list":["post-143912","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-foresight-medical-center","tag-palaver-newspaper","tag-st-augustines-college"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/143912","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=143912"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/143912\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/16512"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=143912"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=143912"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=143912"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}