Fuel prices are expected to slightly decline as the second November pricing window opens on Saturday, November 16, according to the Chamber of Petroleum Consumers (COPEC).
Retail fuel prices are predicted to decline by 5.06%, from the current average pump price of GH˼14.30 per litre to a range of GH˼12.90 to GH˼14.26 per litre, according to COPEC.
Furthermore, it is projected that fuel prices will drop by 3.88%, from the present average of GH˼15.16 per litre to between GH̼13.85 and GH̼15.31 per litre.
Recent months have seen major increases in refined petroleum product prices. State-owned GOIL, for example, increased the price of diesel from GH˼14.90 per litre in the second pricing window in October to GHʼ15.45 per litre in the first pricing window in November.
For consumers hurt by the recent hikes, COPEC’s estimate provides some respite. Changes in the dynamics of the currency rate and global oil prices are reflected in the adjustments.
Source: Citinewsroom