Fuel prices to fall some more – COPEC
The Chamber of Petroleum Consumers Ghana (COPEC) has projected a fall in the prices of fuel form the second window of May.
The fall is down to a tumble in the price of crude oil on the international market.
The relative stability of the Ghana cedi against international currencies of trade, especially the US dollar, also played a role.
COPEC projects petrol to sell at GH¢11.67 per litre at the pumps while diesel sells at GH¢11.51 per litre.
The ex-pump price for petrol is currently GH¢12.00
COPEC, in a statement, said "indications are that pump prices are likely to decline for fuel products across the country".
“The following basic information forms the basis of projections for the coming window: crude price has seen a decline from the mean price of $85.29/barrel to $76.64/barrel (-10.14%) while the forex or dollar exchange rate has slightly decreased from a previous average of GHS12.0060 to GHS11.9963 (0.08%) per $1".
COPEC added: "The following shall be the predicted retail figures for petroleum products; petrol – GH¢11.67/L, diesel GH¢11.51/L".
It said the prices of fuel were fairly stable in the first pricing window of May 2023.
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