The cost of living is set to go up for Ghanaians as prices of petroleum went up at the pump.
The Government is engaged in a fierce battle over the stability of the cedi which is affecting businesses and prices of goods and services.
Per litre of petrol went up to the GHc5 which IES, an energy policy think tank, predicted few days ago.
The Institute of Energy Security had predicted that fuel prices could hit GHC 5 per litre as result of the marginal depreciation of the local currency against the dollar.
If Government fails to intervene to bring prices down, it could add to the already escalating cost of living.
Even though Government has reduced tariffs for electricity and water and introduced a number of pro-poor interventions, fuel prices remains a major headache for Government as the deregulation of the sector is in full flight and allowing market forces to determine prices.
