The Chamber of Petroleum Consumers Ghana (COPEC) has predicted that fuel prices will decrease in the second pricing window of May 2023.
According to COPEC’s projections, this decline is due to a decrease in the international price of crude oil and relatively stable to slightly declining foreign exchange rates.
Currently priced at GH¢12.00 per litre, petrol is expected to be sold at GH¢11.67 per litre.
COPEC stated in a release that the second pricing window, starting in a few hours, is likely to witness a decline in fuel prices across the country.
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“The following basic information forms the basis of projections for the coming window, that; Crude price has seen a decline from the mean price of $85.29/barrel to $76.64/barrel (-10.14%) whiles the forex or Dollar exchange rate has slightly decreased from a previous average of GHS12.0060 to GHS11.9963 (0.08%) per $1, the following shall be the predicted retail figures for Petroleum products; Petrol – GH¢11.67/L, Diesel GH¢11.51/L.”
“Fuel prices in the first May pricing window were fairly stable.”
