Ghana has opted to maintain pump prices of petroleum products for April 2015, while South Africa has chosen to increase same for the period.
The latest petroleum products price build-up schedule released by the Ghana Petroleum Authority sets the ex- pump price of a litre of Premium Motor Spirit (or gasoline, or petrol) at 3Cedis 5pesewas (or $0.91) while kerosene is going for GHC2.92Pesewas ($0.76)
The South African Department of Energy declares that the cheapest type of gasoline, the unleaded 93 Octane will be R12.28 in the local currency (rand) or $1.038 per litre, in the coastal region. In the inland region, where petroleum products cost more, South Africans will pay R12.61 (or $1.066) for a litre of unleaded 93 Octane gasoline. The increases are about R1.62 ($0.136) all round. Diesel will cost R11.227 (or $0.946) in South Africa’s coastal region for the month.
Ghanaians will buy a kilogramme of Liquefied Petroleum Gas at 2 Cedis 64 Pesewas (or $0.68).
Ghana and South Africa always say that they “regulate” pump prices within the dictates of market forces, notably crude oil prices and exchange rates. Still, Ghana Petroleum Authority is always under pressure to reduce the pump prices. Conversely, South Africans do not protest petroleum product prices.