Ghana Fuel Prices Hike Amid Cedi Depreciation and Crude Oil Costs Rise

Fuel prices in Ghana have increased due to the depreciation of the cedi against major currencies and higher global crude oil costs. According to JoyNews, some Oil Marketing Companies have hiked fuel prices for the first pricing window of August.

The biggest rise is seen in diesel, which has recorded an increase following the recent slump in the value of the cedi. The current price of crude oil also continues to affect the cost of fuel.

Kumasi fares have also gone up due to the increased fuel prices. This development will likely impact transportation costs and affect various sectors of the economy.