The Chamber of Petroleum Consumers (COPEC) has foreseen a slight uptick in petroleum prices during the initial pricing window of August 2023.
It is expected that the pump prices for petrol and diesel will rise by approximately 9 percent from the current average price of GHS 11.90 per liter nationwide.
Moreover, the price of liquefied petroleum gas (LPG) is predicted to experience a 20 percent increase.
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These price increases are attributed to the rise in international market rates for petroleum products, with crude oil witnessing a 10.53 percent increase from an average of $75.85 per barrel to $83.84 per barrel.
COPEC has accordingly projected the following retail prices for petroleum products in the upcoming pricing window:
- Petrol: GH¢13.27 per liter
- Diesel: GH¢13.93 per liter
- Mean price for Petrol and Diesel: GH¢13.33 per liter
- LPG: GH¢11.79 per kilogram.
