Petroleum prices have exceeded GH¢8 at major fuel filling stations in Ghana.
There have been fears in the past weeks that global events in eastern Europe – the Ukraine-Russia crisis – could worsen the prices crude oil.
The prices have remained below GH¢8 for some time now in Ghana but at the March pricing window on Tuesday, major oil marketing companies (OMCs) pegged their prices beyond that mark.
For instance, Total Ghana, for instance, is selling diesel and petrol at GH8.29 at the pumps.
Vice President Dr. Mahamudu Bawumia has recently expressed concerns about the high prices of petroleum products and called for a plan to adjust to the situation.
At a national energy transition forum organised by the Ministry of Energy, he noted that the petroleum price increase is going to remain at such high levels “and that we are not going to see any major declines.”
“Then how do we as developing countries like Ghana adjust to this new reality if it becomes the new normal of high oil prices and petroleum prices and its impact on the macro variable in our respective economies? It is clear that we need to have a plan.”
By Emmanuel Kwame Amoh (3news.com|Ghana)
