Business News of Sunday, 16 May 2021Source: www.ghanaweb.comFuel prices are likely to be increased again from Monday, May 17, 2021. 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. Geopolitical events over the past few days have led to increases in International Market Prices from $630.525/mt to around $655.625/mt for premium or petrol as of Friday whiles prices of AGO or diesel has moved from $520/Mt to $545/Mt. These increases on the international market translate to around Ghp 8/litre on local pump prices 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.

Source: GhanaWeb May 16, 2021 17:03 UTC