Business News of Sunday, 16 May 2021Source: www.ghanaweb.comFuel prices are likely to be increased again from Monday, May 17, 2021. The increment is due to some new price changes made on the international market for the commodity, which was $520 per metric tonne but now pegged at about $545 per metric tonne. This translates to about GH¢8 per litre at the local pumps for both petrol and diesel or around 5% on the international price index representing a further increase of about 1.25% variance on current pump prices. The trend if not checked could likely continue or escalate as the geopolitical developments are pointing to bullish sentiments on the international market in the coming days. The country does not have to seem to have in place any mitigating policies or programmes in place to cushion the average Ghanaian from these International Market price shocks as the effects reflect directly at the pumps and on pockets.

Source: GhanaWeb May 16, 2021 17:03 UTC