The Chamber of Petroleum Consumers (COPEC) has predicted a 4% rise in petroleum product prices in the next pricing window, effective today Tuesday, July 16 2024.
According to COPEC, indications across the downstream petroleum market shows that the pump retail prices of all three products- petrol, diesel and LPG will increase on Tuesday.
The Executive Secretary of COPEC, Mr. Duncan Amoah in a statement dated on Sunday, July 14 2024, attributed the potential increase to the depreciation of the Cedi relative to the Dollar rate, from an average of $1:GH¢ 15.2779.
COPEC predicts that petrol prices will rise to GH¢ 14.795/L, diesel GH¢ 15.064/L while LPG is likely to be sold at GH¢ 16.205/Kg. A 14.5kg LPG cylinder is expected to be sold at GH¢ 234.97 within the window.
Reacting to this on Plan B Fm’s ‘Ebaanosen’ show hosted by Ohene Kinnah on Monday, July 15 2024, renowned Energy Expert, Mr. Sampson Addae stated that things are really difficult in Ghana so he is praying and urging the government not to add any new tax on petroleum products but rather do something to subsidize prices of petroleum.
“There shouldn’t be any additional taxes on petroleum products as the Finance Ministry is preparing to present Mid-Year Budget and urged the government to ease some taxes on fuel” he said.
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