The Ghana Chamber of Petroleum Consumers (COPEC) predicts that the price of petrol at the pump would reach about GH¢11 by the end of the week.
Diesel and Liquefied Petroleum Gas (LPG) prices, on the other hand, would be reduced by 40 pesewas per litre and 17 pesewas per kilogram, respectively.
As part of its price deregulation process, the National Petroleum Authority uses a two-week inventory window every month to alter petroleum product prices.
At the moment, the price of petrol at major fuel stations is just under GH¢10 per litre, while other petroleum products like as diesel and LPG retail for more than GH10 per litre and kilogram, respectively.
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Duncan Amoah, Executive Director of COPEC, told Citi News that if no action is taken, customers should expect to pay more for petrol in the following days.
“Petrol will go up to almost GH¢11 for this window, while LPG will decline by as much as 17 pesewas or some 1.61 percent for the first window.”
He also suggested that the Tema Oil Refinery be brought operational in order to stabilize the existing trend.
“Getting TOR to work will also forestall some of the challenges we anticipate in the days and months ahead. We impress on authorities to ensure institutions like BOST are not neglected.”
SOURCE: CITINEWS
