The rising cost of fuel at the pumps is negatively affecting the sale of high engine capacity cars.
This is according to the Automobile Dealers Union Ghana.
After starting the year at around GHC 6.65 petrol and diesel per litre are now selling for GHC 8.29 at some of the major oil marketing companies.
This represents an increase of about 25 per cent in the price of fuel at the pumps in the last nine weeks.
This has led to agitations from multiple stakeholders as well as a 15 per cent increase in general transport fares.
Speaking to Citi Business News on the widespread impact of the rising fuel prices, the General Secretary of the Automobile Dealers Union Ghana Clifford Ansu noted that, used car dealers are also suffering the impact of the hikes.
“Rising fuel prices like we are experiencing affects all businesses. When some people come to our garages to buy cars they look at the engine capacity, when the capacity is high, they get concerned about how to fuel the vehicle. Currently, a gallon of petrol is around GHC 37 and this is of concern to some. This leads to some opting for cars with smaller engine capacities.”
“Most garages have a mix of cars they sell from 0.8 engine capacity cars all the way to 4.7 and 5.7 capacity cars. And the sale of the latter are being affected,” he added.
