Executive Secretary of the Chamber of Petroleum Consumers (COPEC), Duncan Amoah has stated there will be an increase in prices of fuel from 1st August, 2023.
He noted that in the next pricing window, petrol will sell for Ghc13.27 per litre while diesel will be sold for Ghc13.93 per litre.
According to him, the pump prices of Petrol and Diesel are likely to increase on average by about 9% over the current mean price of GHS11.90/L across the country, whilst LPG prices increase by about 20%.
Explaining the reasons for the increase, he mentioned that the prices of finished products on the international market have shot up by average of around 12% for both petrol and diesel, whiles the price of crude has increased by 10.53% from the mean price of $75.85/barrel to $83.84/barrel.
“Even though the forex or dollar exchange rate has relatively decreased from a previous average of GHS11.7848 to GHS11.6433 (-1.20%) per $1, the projected retail figures for Petroleum products starting from Tuesday, August 1 will be, Petrol…GH¢13.27/L and Diesel .. GH¢13.93/L, “he said.
Duncan Amoah encouraged government to do all they can to reduce taxes on LPG or to subsidize the price of LPG to promote or encourage its nationwide accessibility and usage, which will eventually help save the environment and lessen the burden on consumers.
