Ghana Increases Gasoline Prices by 30% With Immediate Effect, GNA Reports

Ghana’s National Petroleum Authority increased gasoline prices 30 percent with effect from today, the Ghana News Agency said.

Retail prices rose to 1.52 Ghana cedis ($1.02) a liter (0.26 gallons) from 1.17 cedis, the Accra-based news agency reported, citing Alex Mould, acting chief executive officer of the authority.

The rise in the government-mandated fuel price was made to offset increases in the world crude price and to raise funds to repay debts incurred by the state-owned Tema Oil Refinery.

A barrel of West African crude was trading at $94.89 as of 9:05 a.m. Accra time, up from $70.80 on July 5, according to Bloomberg data.

To contact the reporter on this story: Jason McLure in Accra on jmclure@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin in Johannesburg at asguazzin@bloomberg.net

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