Fuel prices to rise marginally – COPEC

Next pricing window will see a little increase in fuel costs, according to COPEC.

In this pricing window, the Chamber of Petroleum Consumers (COPEC) forecast a slight increase in fuel prices.

According to Duncan Amoah, the Executive Secretary of COPEC, the price of gasoline and diesel is anticipated to rise between 2% and 5% from what it is at the pump right now.

According to him, the depreciation of the local currency, the Cedi, in relation to the main trading currency, the dollar, is the cause of the rise in petroleum products.

However, he pointed out that the cost of liquefied petroleum gas (LPG) has not altered.

“Fuel products across the country, with the exception of liquefied petroleum gas (LPG), are likely to rise, albeit marginally,” Duncan Amoah said in an interview with Citi News. Prices for LPG are probably going to be maintained or stay the same. We should expect to spend 2% to 5% extra for gasoline and diesel at the pump, and the depreciation of the cedi is partly to blame for this.

He said, “Unfortunately, you can’t say the same for the local currency, and so what most oil marketing companies are likely to give all of us is some marginal increase in the next pricing window of June. International benchmarks have remained relatively stable and even declined.”

Source: Mynewsghana.com