Upward Adjustment of Fuel Prices Imminent

Fuel prices in Ghana may be adjusted upward today by about 15% to 20%, in line with the full cost recovery scheme, the closure of the Tema Oil Refinery (TOR) and world market trends.

The Chief Executive Officer of the National Petroleum Authority (NPA), Mr. John Attafuah, hinted the Business Chronicle yesterday that the price adjustment would also be based on the average crude price increases of about 11 to 12% experienced since the beginning of the year.