Fuel prices are expected to rise by 3.7 percent this month.


The Chamber of Petroleum Consumers (COPEC) has hinted that petrol and diesel prices will rise this month.

According to COPEC, the prices of the products may rise by 3.7 per cent and 2.5 per cent, respectively, in the January 2022 1st Pricing Window.

In nominal terms, COPEC stated that ex-pump petrol and diesel prices will rise by 24 and 17 pesewas, respectively.

Fuel prices have risen due to an increase in crude oil prices on the international market, inflation, and the depreciation of the Ghana cedi over the period.

With the price of fuel products expected to rise in the first pricing window of January, COPEC said in a press release that consumers should expect to pay more for the same product.

If the government suspends the zeroing of the Price Stabilization Recovery Levy on fuel products, ex-pump prices could rise by at least 34 pesewas, according to COPEC.

It did, however, state that some OMCs may not raise their product prices.

“The ex-pump prices of petrol and diesel are expected to surge up by 3.7% and 2.5% respectively. In normal terms, ex-pump prices of petrol and diesel are expected to increase by 24 pesewas amnd17 pesewas respectively. The average surge for both products in normal terms is 20 pesewas representing 3.1%.”


Source: ghpage.com

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