According to Chamber of Petroleum Consumers (COPEC), petroleum prices are expected to rise slightly in the upcoming pricing window of June, with the exception of Liquefied Petroleum Gas (LPG).
The depreciation of the cedi against major currencies has been identified as the main factor behind this increase.
In an interview, the Executive Secretary of COPEC, stated that petrol and diesel prices are projected to experience a moderate increase of approximately 2% to 5% compared to the existing 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 further projected 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.
