The price of diesel has shot up to GH¢23.49 per litre, according to the latest prices advertised by TotalEnergies at the pumps.
Petrol is selling at GH¢17.99 per litre.
Kerosene is going for GH¢14.70.
The new prices take effect from today, Tuesday, 1 November 2022.
President Akufo-Addo on Sunday said his administration is working on bringing affordable petroleum to the country to stem the tide of fuel price hikes at the pumps, which, in turn, impacts the prices of almost every commercial activity.
“I know that the increasing cost of living is the number one concern for all of us. It is driven by fast-escalating fuel prices at the pumps, which is caused by high crude oil prices on the world market and our depreciated currency. I know that this is putting intolerable pressure on families and businesses. I know that people are being driven to make choices they should not have to make, and I know that it has led to the devaluation of capital of traders and painfully accumulated savings”, he told Ghanaians in a national address on Sunday night (30 October 2022).
As part of the mitigation measures, the president announced that “the government is working to secure reliable and regular sources of affordable petroleum products for the Ghanaian market”.
“It is expected that this arrangement, when successful, coupled with a stable currency will halt the escalation of fuel prices and bring relief to us all”, he noted.