The Chamber of Petroleum Consumers (COPEC) anticipates a reduction in fuel prices in the upcoming pricing window starting Monday, September 16, 2024.
COPEC projects an average decrease of around 4% for petrol, diesel, and LPG, offering consumers some relief amid ongoing global fluctuations in petroleum prices.
Unless there are unforeseen significant changes in global Petroleum FOB prices, the downstream petroleum market indicates that the pump retail prices of Petrol, Diesel, and LPG will decrease, benefiting consumers in the next pricing window beginning September 16, 2024,” COPEC’s Executive Secretary, Duncan Amoah stated.
According to COPEC’s forecast, the average retail price of petrol is expected to drop to GH¢12.956 per liter, while diesel and LPG are likely to decline to GH¢13.642 per liter and GH¢15.345 per kilogram, respectively.
These cuts are said to have been brought about by the low prices of petroleum products on the world market Crude oil prices are the lowest they have been this year.
COPEC also called on the government to immediately introduce more drastic measures towards the removal of taxes on fuel products especially the LPG.
This would go along with way in reducing deforestation triggered by the use of firewood.
Also, COPEC supported the measures towards the improvement of the Tema Oil Refinery (TOR) and reduce reliance on actualization of imported refined fuel products such as fuel contamination.
SOURCE: https://dew360.net
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