The Chamber of Petroleum Consumers (COPEC) believes that the next pricing window, which begins on Monday, September 16, 2024, will see lower fuel costs.
In light of the continuous variations in petroleum prices around the world, COPEC predicts an average drop of about 4% for petrol, diesel and LPG. This will provide some respite to customers.
“Unless there are unforeseen significant changes in global Petroleum FOB prices, the downstream petroleum market indicates that the pump retail prices of Petrol, Diesel, and LPG will decrease, benefiting consumers in the next pricing window beginning September 16, 2024,” COPEC’s Executive Secretary, Duncan Amoah stated.
The average retail price of gasoline is predicted by COPEC to fall to GH¢12.956 per litre, while the average retail price of diesel and LPG is anticipated to decrease to GH¢13.642 per litre and GH¢15.345 per kilogramme, respectively.
The drop in the price of petroleum products on the global market, where crude oil has reached its lowest point of the year, is blamed for these cutbacks.
In order to improve accessibility and consumption, COPEC also encouraged the government to take immediate action to lower tariffs on fuel products, particularly LPG.
By doing this, firewood use-related deforestation would be reduced.
COPEC also suggested reviving the Tema Oil Refinery (TOR) in order to lessen reliance on refined fuel imports and avoid problems such as fuel pollution.
Source: Adomonline
