COPEC predicts marginal rise in fuel prices for August 2023

The Chamber of Petroleum Consumers (COPEC) has forecasted a slight increase in petroleum prices during the first pricing window of August 2023.

According to COPEC's predictions, the pump prices of petrol and diesel are expected to rise by approximately 9 per cent from the current average price of GHS 11.90 per litre across the country.

Furthermore, consumers should anticipate a significant 20 per cent increase in the price of liquefied petroleum gas (LPG).

COPEC attributes these price hikes to the international market, where the cost of crude oil has surged by 10.53 per cent, escalating from a mean price of $75.85 per barrel to $83.84 per barrel.

For the upcoming pricing window, COPEC has projected the following retail figures for petroleum products:

  • Petrol: GH¢13.27 per litre
  • Diesel: GH¢13.93 per litre
  • Mean price for Petrol and Diesel: GH¢13.33 per litre
  • LPG: GH¢11.79 per kilogram

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