The Chamber of Petroleum Consumers (COPEC) has indicated that petroleum prices in the country are set to experience a slight increase in the second half of June.
The increase has been attributed to the marginal depreciation of the cedi, losing against major currencies.
Last week, the cedi maintained a mixed-reaction performance against major trading currencies, especially the dollar.
In an interview, the Executive Secretary of COPEC, Duncan Amoah, said that petrol and diesel prices are expected to increase between 2% and 5% compared to the current pump prices.
“Fuel products across the country, except for liquefied petroleum gas (LPG), are likely to rise, albeit marginal. LPG is likely to have prices sustained or remain at the current level. For petrol and diesel, we are likely to pay 2% – 5% more on current pump prices, and a depreciation of the cedi largely accounts for this.”
“International benchmarks have remained relatively stable and even declined. Unfortunately, you can’t say the same for the local currency, and so give or take, what most oil marketing companies are likely to give all of us is some marginal increase in the next pricing window of June.”
He further projected retail figures for petroleum products in the next pricing window as follows;
Petrol, GH¢ 12.21/L; Diesel – GH¢12.27/L; Mean price for Petrol and Diesel – GH¢ 12.24/L and LPG – GH¢ 10.40/L.