{"id":393277,"date":"2025-09-03T01:02:16","date_gmt":"2025-09-03T01:02:16","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/393277\/"},"modified":"2025-09-03T01:02:16","modified_gmt":"2025-09-03T01:02:16","slug":"fuel-prices-edge-up-as-cedi-weakens","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/393277\/","title":{"rendered":"Fuel prices edge up as cedi weakens"},"content":{"rendered":"<p id=\"article-123\">Ghana\u2019s fuel prices have increased slightly, driven by the depreciation of the local currency rather than global oil volatility.<\/p>\n<p>According to the Chief Executive Officer of the Chamber of Oil Marketing Companies, Dr Riverson Oppong, the recent uptick at the pumps is largely due to the cedi\u2019s 4% depreciation against major currencies, particularly the US dollar.<\/p>\n<p>Speaking on TV3\u2019s Business Focus, Dr Oppong explained that the weakening local currency has directly affected the cost of LPG, diesel, and petrol, which are priced in foreign exchange.<\/p>\n<p>\u201cThe marginal increase we see today is purely due to the depreciation rate at the forex level,\u201d he said.<\/p>\n<p><a href=\"https:\/\/www.ghanaweb.com\/GhanaHomePage\/business\/How-much-fuel-prices-are-expected-to-rise-on-September-1-1998496\" target=\"_blank\" rel=\"noopener\">How much fuel prices are expected to rise on September 1<\/a><\/p>\n<p>The price of diesel has seen a modest rise of between 1.2% and 3%, while petrol has reacted differently due to separate market dynamics.<\/p>\n<p>Ghana\u2019s fuel pricing operates under a deregulated regime, meaning prices are adjusted based on international benchmarks and currency movements.<\/p>\n<p>With the cedi under pressure and global oil prices still volatile, consumers and industry players are watching the market closely.<\/p>\n<p>SA\/MA<\/p>\n","protected":false},"excerpt":{"rendered":"Ghana\u2019s fuel prices have increased slightly, driven by the depreciation of the local currency rather than global oil&hellip;\n","protected":false},"author":2,"featured_media":101575,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3090],"tags":[51,1700,16,15],"class_list":{"0":"post-393277","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-uk","11":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115137671627066152","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/393277","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=393277"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/393277\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/101575"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=393277"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=393277"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=393277"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}