Diesel to sell at GH¢19.07 per litre, Petrol to sell at GH¢16.26 – from Wednesday – COPEC
Petrol prices are projected to rise to an average of GH¢16.26 per litre, while diesel is expected to sell at about GH¢19.07 per litre from Wednesday, September 16, according to the Chamber of Petroleum Consumers (COPEC).
COPEC forecasts a 4.24% increase in petrol prices from the current average of GH¢15.60 per litre.
Diesel is expected to record a sharper increase of 10.23%, moving from an average of GH¢17.30 to GH¢19.07 per litre.
The Chamber attributed the anticipated increases largely to significant rises in international crude oil and refined petroleum product prices.
According to COPEC, the price of crude oil on the international market climbed from $89.30 to $103.07 per barrel during the latest pricing window.
It further reported that the international Free-On-Board (FOB) price of petrol increased by 10.08%, from $1,136.50 to $1,251.07 per metric tonne. The FOB price of diesel also rose by 12.33%, from $1,250.50 to $1,404.73 per metric tonne.
The Ghanaian cedi, however, recorded a marginal 0.29% appreciation against the US dollar, strengthening from an average interbank rate of GH¢11.5166 to GH¢11.4830 to the dollar.
COPEC also projects that Liquefied Petroleum Gas (LPG) could sell at GH¢15.32 per kilogramme, following a 16.45% rise in its international FOB price.
The Chamber has appealed to the government to extend its subsidy intervention, proposing a GH¢1-per-litre relief for petrol consumers while maintaining the existing GH¢2-per-litre subsidy on diesel.
COPEC has also called on Oil Marketing Companies (OMCs) to consider reducing their margins as a measure to cushion consumers against the expected price increases.
