Hike in Fuel Prices Enrage Drivers

A few drivers and commuters have expressed anger over the latest increment in fuel prices.

According to checks at some fuel stations by Starr News, a litre of diesel and petrol are currently being sold at GH¢5.18 and GH¢5.14 respectively.

“Petrol for 5 cedis…it’s not easy. It’s just too much so at least they have to look at it. It’s not easy my brother, 5 cedis petrol. Even now we are crying and then buying petrol for 5 cedis,” a driver told Starr News.

“How am I going to pay my wards school fees? How am I going to buy books for them? How am I going to offer them a better education? My brother I have siblings and relatives that I have to help but I’m going to use all the money to buy fuel,” said another.

Over the weekend, the Institute of Energy Securities (IES) had predicted based on its research on the second pricing window that the prices would go beyond GH¢5 per litre.

The IES is predicting further hikes in the prices of fuel as the cedi continuous to struggle against its major trading currencies.

The cedi has recorded massive losses against the dollar, the latest being last week where it hit GH¢4.97 to the dollar. It followed a July fall where it traded at GH¢4.8250 to the dollar depreciating cumulatively, by 5.3 per cent in the first six months, compared to 3.3 per cent in the first half of 2017 despite significant increments of weekly dollar sales to local banks in the country.