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RADP / Pulse Ghana  >  business

Fuel prices to decrease marginally end of September - COPEC

Evans Effah

Consumers of petroleum products, especially petrol and diesel will enjoy a marginal decrease in the prices of the product at the end of the month os September.

Executive Secretary of COPEC, Duncan Amoah
Executive Secretary of COPEC, Duncan Amoah

This was revealed by the Chamber of Petroleum Consumers (COPEC).

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In an interview with Citi Business News, Executive Secretary of COPEC, Duncan Amoah, said consumers should expect the reduction by the end of September.

READ ALSO: Standard Chartered named Best Consumer Digital Bank 2020 in Ghana

He noted that the reduction will be either one or two percent in prices of petrol and diesel respectively.

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“Our check with the platt benchmark indicates petrol probably has lost about 4 pesewas per litre if you do just the international benchmark platt values. Again, diesel also seems to have recorded some 10 pesewas reduction. If all things are held equal, if the cedi whose performance has been quite stable over the past couple of weeks should be taken into account, Ghanaians should expect at least some marginal reduction in pump prices,” he stated.

The Chamber made this prediction looking at the world crude oil prices and as major oil-producing countries ramp up their production after the negative impact of COVID-19.

READ ALSO: Government suspends the implementation of the ban on accident vehicle imports

Petrol is currently selling at GHS4.89 per litre while diesel is selling at GHS4.91 litre.

Evans Effah Evans Effah Evans Effah is a seasoned journalist with a passion for news journalism, communications, and public relations. With over a decade of experience in the field, he has established himself as a prominent figure in the media industry.

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