The latest CoMAC price outlook forecasts a notable decrease in petroleum prices, driven by a drop in global crude oil prices and a corresponding decline in refined product prices on the international market.
This projection is expected to provide some relief to petroleum consumers.
The outlook, covering the period from March 16 to March 31, 2025, predicts a 4.5 percent decrease in petrol prices, a 3.8 percent drop in diesel, and a 3.9 percent reduction in Liquefied Petroleum Gas (LPG).
Dr. Riverson Oppong, CEO of CoMAC, offers further insights into these changes.
“Two major parameters that we look at for, when predicting, got to do with the international benchmark price and the stability of the cedi or the forex. In the, the past month, we’ve seen the cedi swapping between 15 to 16 cedi, not stabilized. And, the good news has to do with the fact that for the past two weeks and going forward in the future sales market has also been coming down.”
” And that’s the reason why we start to see the same impact at the pump price level. So the prediction of the percentages that we foresee got to do with what the potential benchmark prices, are also contributing to and also the effect of, the availability of forex for sales.
That will obviously, affect the price for the BDCs to lift.”
