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What you need to know about the 2% increase in fuel prices that will take effect on July 1st.

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According to Joy Business, fuel prices are projected to rise somewhat starting on Thursday, July 1.

This is due to growing crude oil prices on the international market, notwithstanding the cedi’s relative stability against the dollar.

Beginning Thursday, a new price list from the Bulk Oil Distribution Companies (BDCs) to the Oil Marketing Companies (OMCs) will be available.

The increase is being attributed by the bulk distributors of the products to the increased price of completed goods on the international market.

According to Joy Business’s research, the price of a litre of diesel and petrol should be raised by just a few percent..

It’s unclear whether the OMCs would be able to sustain the small price increase planned.

Fuel prices are projected to rise in the next months if the government does not provide any subsidies, according to projections.

The current fuel price rise is a result of the deregulation program implemented in 2015.

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