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Price of fuel to hit Gh¢ 8.00 per liter by March 2022; OM Cs cites.

Price of fuel to hit Gh¢ 8.00 per liter by March 2022; OM Cs cites.

The C.E.O of the Association of Oil and Marketing Companies has cited that consumers will have to pay more than Gh¢8.00 per litre for fuel come March 2022.

According to the projection of Kwaku Agyeman Duah, it the price of petroleum products should continue to rise on as it’s happening now on the international market among other things, Ghanaians would have to brace themselves to experience new price hikes in March 2022.

Kwaku Agyemang on JoyNews’ PM Express, he explained that taking into consideration the unyielding rise of the dollar against the cedi, as well as the sporadic increments in petroleum product prices on the international market, fossil fuel prices in Ghana would likely hit ¢8 per litre.

“The short-term one is up to March, we sure will be crossing the 8 cedis per litre by then, he told host, Evans Mensah.

He further revealed that some OMCs have had to shut down due to their inability to meet the high cost of doing business as a result of the frequent price hikes.

“You know we have got the taxes there, and the other levies and you have got your margin now if the taxes are too high you may have to forgo your margin. Now when you forgo your margin what do you use to pay your workers?” he said.

Meanwhile, transport operators are readying themselves to hike fares by 30% after a meeting with the Transport Minister this Thursday.

They cited the recent price hikes in petroleum products as their main motivator.

Source: myjoyonline.com

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