The Chamber of Petroleum Consumers (COPEC) has predicted a reduction in the prices of diesel and Liquefied Petroleum Gas (LPG) commencing tomorrow, January 16, 2023.
This downward adjustment is attributed to a decline in the prices of finished petroleum products on the global market, despite a marginal depreciation of the cedi over the past two weeks.
However, the cost of petrol is expected to remain stable during this period.
COPEC has projected an average petrol price of GH¢11.71 per litre, while diesel is expected to be priced at GH¢12.13 per litre. LPG, on the other hand, is projected to sell at GH¢12.30 per kilogramme.
This shift in pricing comes on the heels of a decrease in the prices of petroleum products in the domestic market at the outset of 2024. The average price of petrol is reported to be GH¢11.80, and diesel stands at GH¢12.25.
Meanwhile, LPG is being sold at GH¢13 per kg.
It is expected that consumers can benefit from these adjusted prices as the petroleum industry adapts to the changing dynamics of the global market.