COPEC predicts a marginal rise in petroleum prices in the first pricing window of August

The Chamber of Petroleum Consumers (COPEC) anticipates a slight upturn in petroleum prices during the first pricing window of August 2023.

It is expected that the pump prices of petrol and diesel may increase 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 projected to experience a 20 percent hike.

COPEC attributes these price increases to a rise in the international market prices of petroleum products, with crude oil registering a 10.53 percent increase from the mean price of $75.85 per barrel to $83.84 per barrel.

In view of these developments, COPEC has estimated the following retail figures 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.

Source – citinwesroom.com