Currently, gasoline costs ¢18 cents per liter, while diesel costs ¢23 cent.

From this morning, November 1, 2022, a few Oil Marketing Companies (OMCs) have begun raising the price of gasoline at the pump. 

The average price of gasoline and diesel has increased from the previous prices of 15 and 19 rupees per litre, respectively, to 18 and 23 rupees. 

Leading OMCs have already changed their pump prices for fuel products. 

They blame the steep depreciation of the cedi over the previous two weeks for the huge spike in petrol prices.

Currently selling for $94 per barrel on the international market, crude oil prices are largely stable. 

But since the start of the year, the cost of petrol has increased by more than 100%. Beginning in 2022, the price of gasoline and diesel was roughly 7.5 cents per liter. 

By the middle of November 2022, gasoline and diesel prices are anticipated to increase even more, reaching $18 and $20 per liter, respectively, according to the Institute for Energy Security (IES).



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