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Fuel prices to go up marginally in next pricing window – COPEC

  • SOURCE: Reporting Oil and Gas | qwesa2big
    • POSTED ON: June 15, 2023

    The Chamber of Petroleum Consumers (COPEC) has announced
    that petroleum prices in Ghana are set to increase slightly in the upcoming
    pricing window of June, except for Liquefied Petroleum Gas (LPG).

    COPEC attributed the increase to the depreciation of the
    cedi against major currencies.

    In an interview with Citi Business News, Duncan Amoah, the Executive
    Secretary of COPEC stated that petrol and diesel prices are expected to see a rise
    ranging between 2% and 5% compared to the current pump prices.

    “Fuel products across the country, except for liquefied
    petroleum gas (LPG), are likely to rise, albeit marginal. LPG is likely to have
    prices sustained or remained at the current level. For petrol and diesel, we
    are likely to pay 2% – 5% more on current pump prices and a depreciation of the
    cedi largely accounts for this.

    “International benchmarks have remained relatively stable
    and even declined, unfortunately, you can’t say the same for the local currency
    and so give or take what most oil marketing companies are likely to give all of
    us is some marginal increase in the next pricing window of June.”

    The Executive Secretary of COPEC proceeded to project retail
    figures for petroleum products in the next pricing window as follows:

    Petrol, GH¢ 12.21/L; Diesel – GH¢12.27/L; Mean price for
    Petrol and Diesel – GH¢ 12.24/L and LPG – GH¢ 10.40/L.

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