S/ Africa Increases Pump Prices as Ghana Maintains Status Quo
The latest petroleum products price build-up schedule released by the Ghana Petroleum Authority revealed that Ghana has opted to maintain pump prices of petroleum products for April 2015, while South Africa has chosen to increase same for the period.
Ghana Petroleum Authority sets the ex- pump price of a litre of Premium Motor Spirit (or gasoline, or petrol) at 3Cedis 5pesewas or $0.91 while kerosene is going for GHC2.92Pesewas or $0.76
The South African Department of Energy declares that the cheapest type of gasoline, the unleaded 93 Octane will be $1.038 per litre, in the local currency (rand) or in the coastal region. In the inland region, where petroleum products cost more, South Africans will pay R12.61 or $1.066 for a litre of unleaded 93 Octane gasoline. The increases are about R1.62 ($0.136) all round. Diesel will cost R11.227 (or $0.946) in South Africa’s coastal region for the month.
Ghanaians will buy a kilogramme of Liquefied Petroleum Gas (LPG) at 2 Cedis 64 Pesewas or $0.68.
Ghana and South Africa has always maintained that they “regulate” pump prices within the dictates of market forces, notably crude oil prices and exchange rates.
However, Ghana Petroleum Authority is always under pressure to reduce the pump prices. Conversely, South Africans do not protest petroleum product prices.
