Petrol Goes Up

Petrol filling station Prices of petroleum products have been adjusted upward yesterday by the National Petroleum Authority (NPA) following the rising crude oil prices on the world market.

The price of the commodity hit $48.75 in the international market as at yesterday.

The sudden increase of petroleum prices is at variance with the electoral promise of President John Evans Atta Mills who had indicated that state intervention was necessary, especially in the face of economic hardships.

The new twist appears to suggest that President Mills had played a fast one on Ghanaians, by lying his way to power.

Deputy Energy Minister designate, Dr. Kwabena Donkor, yesterday ruled out any state intervention, saying that it was the duty of the NPA to regulate petrol prices.

The upward review of petroleum prices, effective today, has pushed the price of petrol by 10 per cent whilst diesel goes up by two per cent. Price of LPG also went up by five per cent, while that of pre-mix fuel and kerosene remain unchanged.

By this margin, a litre of petrol has been increased from GHp77.9000 to GHp85.7000 while that of diesel has increased from GHp84.6000 to GHp86.2000 per litre. Price of LPG on the other hand, shot up from GHp58.5000 to GHp61.4000 per kilogramme, while that of kerosene and premix fuel however remained at GHp66.5000 per litre and GHp 39.6000 per litre respectively.

The new prices which take immediate effect from today have already been agreed upon by the Oil Marketing Companies and the NPA.

The increase is the first this year and the highest for petrol since the government intervened to mitigate the impact of high fuel prices at the height of the energy crisis last year.

Meanwhile, a fuel shortage has hit some parts of the nation's capital since Monday; compelling motorists, both commercial and private to scout for the essential commodity from fuel stations dotting the city.

Taxi drivers, unable to contain the stress associated with the shortage, have expressed uncomplimentary remarks about the managers of the economy with some saying they cannot recall the last time they have witnessed a fuel shortage in the country.

There was “panic buying” since early morning of yesterday with long queues beginning to form up in some parts of the city where DAILY GUIDE visited.

DAILY GUIDE gathered that petrol had run out of stock with diesel also almost gone in some pumps, especially Total and Shell filling stations and some local dealers.

By Felix Dela Klutse