Fuel prices to decline starting from October 16 – COPEC

Contained in a statement on Friday, COPEC's Executive Secretary, Duncan Amoah, cited the drop in international product prices and the apparent strengthening of the Ghanaian cedi against the US dollar as the reasons for this anticipated decline in fuel costs.

COPEC estimates that the price of petrol may decrease to GH¢12.098 per liter, and diesel prices could fall to GH¢12.694 per liter during the second pricing window of October, effective October 16, 2023, as scheduled.

"The second pricing window for the month of October under the National Petroleum Authority’s price deregulation program on petroleum pricing is set to commence from Monday the 16th of October"

"Indications of prices based on international price movements and the forex performance over the past forthright points to some marginal reductions across pumps for the coming window as confirmed by CBOD petroleum pricing outlook for the window."

Currently, petrol is sold in Ghana at an average price of GH¢12.63 per liter, while diesel is priced at GH¢13.40 per liter.