The Chamber of Petroleum Consumers (COPEC) is projecting marginal increases in petroleum prices at the pumps when the second pricing window takes effect on July 16.
The projected hike is driven by higher international refined petroleum product prices and a slight depreciation of the cedi against the US dollar.
According to the Chamber, the projected adjustments come despite global crude oil prices easing from $78 per barrel to $71.9 per barrel during the pricing window.
However, gains in international prices for refined petroleum products offset the decline in crude oil prices, while the cedi weakened marginally by 0.56% against the US dollar over the period.
For petrol, the Free-on-Board (FOB) price increased by 5.4%, rising from $920.34 per metric tonne to $970.63 per metric tonne.
COPEC expects petrol to retail between GH¢13.15 and GH¢14.53 per litre, depending on pricing decisions by individual Oil Marketing Companies (OMCs).
Diesel is also expected to record an upward adjustment after its international FOB price climbed 8.75%, from $896.02 per metric tonne to $974.40 per metric tonne.
COPEC expects retail prices of diesel to range between GH¢14.16 and GH¢15.65 per litre across the market.
Meanwhile, LPG prices are expected to edge lower after international FOB prices declined marginally by 0.52%, from $548.50 per metric tonne to $545.65 per metric tonne. COPEC projects LPG to retail between GH¢9.47 and GH¢10.46 per kilogram.
Despite projecting higher prices for petrol and diesel, COPEC has urged Oil Marketing Companies to exercise restraint in their pricing decisions and maintain pump prices where possible.
Meanwhile, price floors for petrol, diesel and liquefied petroleum gas (LPG) have increased for the second pricing window of July compared with the benchmarks set for the first pricing window of the month.
