GOIL increases fuel prices again, diesel sells GHC14.80, GHC14.99 per litre of petrol

The Ghana Oil Company (GOIL) has increased prices at its pumps for the third time in two weeks.

GOIL announced on Tuesday, April 16, that the price of diesel is now GHC14.80 per litre, up from GHC14.74 previously.

The price of petrol also rose to GHC14.99 per litre from GHC14.15.

This marks the latest adjustment within a fortnight by the state-owned oil marketing company.

On April 3 and 4 respectively, GOIL increased petrol and diesel prices after the NPA reversed its suspension of the Price Stabilization and Recovery Levy (PSRL). The PSRL is a technical levy imposed on fuel products to support subsidies.

It was reintroduced on April 3, at 16 pesewas per litre for petrol and 14 pesewas for diesel, after the NPA had suspended it from April 1 to June 30, on government orders.

GOIL and other OMCs say the sudden re-imposition of the levy left them with no choice but to hike pump prices to recoup the additional costs.