Fuel prices expected to go up again soon

Starting on June 1, 2024, the various industry players have been asked by the National Petroleum Authority (NPA) to enhance the Unified Petroleum Price Fund (UPPF) margin by GH₵0.05 on every liter in the Price Build Up for petroleum products.

As a result, customers may expect to spend more in the near future for petroleum items.

According to the NPA, the modification of the margin is required to guarantee the fund’s viability and enable the effective distribution of petroleum products throughout the nation.

The instruction was included in a circular that JOYBUSINESS saw and which was published on May 30, 2024.

Fuel prices expected to go up again soon

The margin on gasoline and diesel has been raised by GH₵0.05 to GH₵0.90 in accordance with the regulation.

Petroleum product prices were already anticipated to rise this week.

However, prices may see modifications at the pumps that are greater than anticipated based on the development.

Whether the oil marketing businesses choose to pass on the cost to customers or absorb it themselves will determine this.

Akosua Boatemaa

I'm Yours Truly, Blogger Akosua Boatemaa. I'm here to feed Your eyes and Ears with Authentic News Updates.

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