Petroleum prices reduced by ¢0.15 per litre

Government of Ghana has announced reduction on petroleum price build-up margins by ¢0.15 per litre effective April 1, 2022. 

This was made known by the Minister of Finance, Ken Ofori-Atta, on Thursday, March 24, 2022 during a press briefing.

According to him, the reduction by government is meant to mitigate “the impact of the rising price of petroleum products at the pump, for the next three months.”

“To mitigate the rising price of petroleum products at the pumps for the next three months, government has decided to reduce margins in petroleum price build-up by a total of 15 pesewas per litre with effect from 1st of April,” he said.

“BOST margin reduced by 2 pesewas per litre, unified petroleum pricing fund margin reduced by 9 pesewas per litre, fuel markin margin reduced by 1 pesewa per litre, primary distribution margin reduced by 3 pesewas per litre. These are expected to reduce the price of petrol by 1.6 percent and diesel by 1.4 percent. We anticipate the measures taken to stabilise the currency will help further stabilise the prices at the pumps,” Mr. Ofori-Atta added.