COPEC predicts fuel price increment in January pricing window

COPEC predicts fuel price increment in January pricing window

An upward adjustment of the prices of Petrol and Diesel this month has been predicted by the Chamber of Petroleum Consumers (COPEC).

COPEC further predicts that prices of the products may go up by 3.7% and 2.5% respectively, in the first pricing window of January 2022.

In nominal terms as well, COPEC insisted that ex-pump prices of petrol and diesel are expected to increase by 24 and 17 pesewas, respectively.

Ghanaians have been witnessing the prices of fuel products skyrocket over the period due to the increment in crude oil prices on the international market, inflation and the depreciation of the Ghana cedi.

As an adjustment of the price of fuel products seems imminent in the first pricing window of January, COPEC in a press statement revealed that consumers should prepare to pay more for the same product.

COPEC also states that, if the government suspends the zeroing of the Price Stabilization Recovery Levy on fuel products, then ex-pump prices could surge by at least 34 pesewas.

It, however, said some of the OMCs may not increase the prices of their products.

“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%.”

By: Stella Annan | myactiveonline.com Twitter @activetvgh

Comment Here...

%d bloggers like this: