Recently, the issue of hike in fuel prices has become a major cause for concern within the Ghanaian community.
It’s no news hearing about a sudden increase in fuel prices which eventually leads to a drastic upward shift in the price of transportation fares.
However, it’s no fault of the government as many have perceived it to be. Prices of fuel will always continue to rise irrespective of the government that comes to power.
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The only thing that may change is the frequency at the increment is done and intensity of the increment. That is, how high the prices shoot up.
For sometime now, people have shown massive concerning when it comes to fuel but have you borthered to ask yourself if the same situation is observed when it comes to diesel.
Mostly, vehicle drivers do not take into consideration prices of diesel because it is not the major contributing factor towards the fueling of a car.
Though this assertion may be factual, it’s still essential vehicle owners and drivers in Ghana consider the prices of diesel whenever they are ascertaining fuel consumption.
In light of this, let’s take a look at how diesel prices have fared recently.
According to our checks, the average exchange rate on the day is Rs. 64.09 per dollar, which brings the total cost of a liter of diesel to Rs. 27.78.
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Recently, price of diesel has ranged between $50 to $70 depending on the particular type of crude oil you purchased.
With crude oil rising to such a high pri ce level, a standard 42 gallon barrel of diesel translates to $1.19 to $1.68 per gallon of diesel at the pump.
Apart from the aforementioned price ranges, excise taxes adds 49 percent a gallon on average nationwide.
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As at 17 January 2022, the diesel price in United States dollars stood at 1.107 per liter and 4.190 per gallon.
In the Euro, a liter of diesel shot up to 0.971 bringing the price of a gallon of diesel to £3.676.
However, in Ghana, the average price of diesel worldwide for the beginning of the year 2022 is fixed and Ghc9.79.