In the upcoming first pricing window of August 2023, the Chamber of Petroleum Consumers (COPEC) has predicted a marginal rise in petroleum prices.
According to their analysis, both petrol and diesel pump prices are expected to experience an approximate 9 percent increase from the current national average of GHS11.90 per liter.
The price of liquefied petroleum gas (LPG) is also anticipated to face a more substantial surge, with an estimated 20 percent increase.
COPEC attributes these price escalations to a corresponding rise in the international market prices of these products. Specifically, crude oil has witnessed a 10.53 percent increase, soaring from the mean price of $75.85 per barrel to $83.84 per barrel.
Taking these factors into account, COPEC has projected the following retail figures for petroleum products in the upcoming pricing window: GH¢13.27 per liter for petrol, GH¢13.93 per liter for diesel, and an average of GH¢13.33 per liter for both petrol and diesel. Additionally, the price of LPG is set to reach GH¢11.79 per kilogram.
