Prices of petrol, diesel to fall between 3.7% and 4.04% per litre – COPEC

The
Chamber of Petroleum Consumers (COPEC) has announced that beginning Thursday,
March 1, 2023, prices of petrol and diesel are expected to fall between 3.7%
and 4.04% per litre.

According
to the Chamber of Petroleum Consumers (COPEC), this follows a decline in the
prices of the products on the world market, despite a marginal depreciation of
the cedi to the dollar during the period.

“These
expected drop in prices for the second time running since the second pricing
window of February 2023 does not have any correlation with the much-touted Gold
for Oil programme as these movements are simply a derivative of market forces
at play within the period,”.

“We
still await the reductions the two cargoes brought in this month will add to
the relieving the suffering of the petroleum consumer”,
it added.

For
petrol, COPEC said “with the international price decreasing from $878.41/MT
to $849.25/MT (-3.32%), the retail price works up to ¢13.66 per litre.”

Touching on diesel, it
pointed out “with the International price decreasing from $854.00/MT to
$809.38/MT (-5.22%), and the increase in the dollar rate, the expected mean
retail price for the next window shall be ¢13.98 per litre”.

On the other hand, it said
the projected retail price of Liquefied Petroleum Gas (LPG) is expected to
increase by about 4.36% from the current average of 13.86/kilogramme to
¢14.46/kg.