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Fuel prices go up predicted by COPEC

January 16th 2022, 9:25:21 am

In line with the predictions made by the Chamber of Petroleum Consumers (COPEC), fuel prices have gone up and some Oil Marketing Companies (OMCs) have increased their prices at the pump Sunday, January 16.

Total Oil has increased the price of diesel per litre from GHC6.85 to GHC7.05

COPEC predicted that Ghanaians should expect prices of petrol and diesel to surge by 3.7% and 2.5% respectively.

COPEC said ex-pump prices of petrol and diesel were expected to increase by 24 pesewas and 17 pesewas respectively.

The average surge for both products in nominal terms is 20 pesewas representing 3.1%. Some Oil Marketing Companies (OMCs) could increase their prices less than the 20 pesewas increase due to competition,” a statement issued by COPEC on Monday January 3 indicated.

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According to checks this morning, Total Oil has increased the price of diesel from GHC6.85 to GHC7.05.

The price of petrol also went from GHC6.80 to GHC6.99 per litre.

This means that percentage-wise, a litre of diesel at Total’s service stations in the country has gone up by 2.91% per litre and 2.79% for petrol per litre.

Meanwhile, the National Petroleum Authority (NPA) announced that it has extended the removal of the Price Stabilisation and Recovery Levies (PSRL) on petrol, diesel, and LPG for another one month.

According to a statement signed by the Chief Executive of NPA, Mustapha Abdul-Hamid, the President Akufo-Addo has directed that the PSRL on petroleum products be removed for the month of january 2022.

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Evans Effah

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