Fuel prices to increase marginally from Monday – COPEC

The Chamber of Petroleum Consumers (COPEC) has predicted a marginal increment in fuel prices in this pricing window [July].

According to the Executive Secretary of COPEC, Duncan Amoah, petrol and diesel prices are expected to see an increment of 2.6% and 2.4% respectively at various pumps.

He however noted that the price of Liquified Petroleum Gas (LPG) remains unchanged.

“The numbers we have in front of us for July are pointing to some 2.6% increase in petrol and 2.4% for diesel with LPG likely to be stable. As to whether they would factor what they could have done in the current window into the coming window, July will tell. But clearly, it is likely you will pay a little more for petrol and diesel next week,” Mr. Amoah told StarrNews.

He stated that the increase in petroleum products was due to the depreciation of the local currency – Cedi – against the major trading currency – dollar.

But the Institute for Energy Security (IES) has projected otherwise as the policy think-tank stated that the prices of diesel and Liquefied Petroleum Gas are expected to fall marginally in the first two weeks of July.

The IES attributed the marginal decrease to the various changes in the price of the commodities on the international fuel market which will reflect positively in the local market.