Cedi's Depreciation, Taxes Push Fuel Prices Up Over 340% In 10yrs - IES Analysis | Economy
Prices of petrol and diesel shot up 347 percent and 338 percent respectively between 2010 and 2019, due to the cedi’s persistent depreciation, taxes and levies, according to a new study by the Institute for Energy Security (IES). In 2010 the average pump price of petrol stood at GH¢1.16 per litre (GH¢5.22 a gallon), but in 2019 the average price was GH¢5.18 per litre (GH¢23.31 a gallon). Likewise, the average pump price of diesel moved from GH¢1.18 per litre (GH¢5.31 a gallon) in 2010 to GH¢5.17 per litre (GH¢23.27 a gallon) in 2019. The analysis was carried out using data from t...
Source: peacefmonline.com