The Ghana Chamber of Petroleum Consumers (COPEC) has predicted that fuel prices will rise by 30 pesewas in the near future.
From February 16th, 2022, at an FOB price of $880.79, our anticipated ex-pump price is GH7.764, thus it's predicted that the utmost ex-pump price should be hovering around GH7.750, says Duncan Amoah, COPEC's Executive Secretary.
Prices on the market are now averaging GH6.4 per litre.
Fuel prices have risen by nearly GH1 since 2022, and public transportation companies are discussing raising fees.
The National Petroleum Authority's reintroduction of the Price Stabilisation and Recovery Levy (PSRL) did not assist matters.
The NPA justified the action by claiming that it would allow the sector to generate enough cash to subsidize the supply of gasoline, diesel, and LPG.
Consumers saved 6 pesewas per litre on petrol, 14 pesewas per litre (GHp14/Lt) on diesel, and 14 pesewas per kilogram (GHp14/Kg) on LPG as a result of the temporary elimination.
As a result, while customers adjust to the price hike, they could expect another increase with an impact about double that of the PSRL's return.