Fuel prices at various vending points are expected to increase up to about 3 percent in the first pricing window of June.
According to the Chamber of Petroleum Consumers-Ghana (COPEC-GH), indicative ex-refinery prices for both petrol and diesel are expected to go up by between 2-3 percent for the first window which begins on 1 June 2018.
“Pump prices for both products could be expected to rise by between 2-3 percent depending on the Oil Marketing Company (OMC), the current pump averages of 4.670 and 4.660 for Gas Oil and Gasoline respectively, given the current price movements, the two products could rise to as high as GHS 4.80/litre or GHS 21.60/ gallon, and GHS 4.78/litre or GHS 21.51/gallon for Gasoline and Gasoil respectively representing 2.783 percent and 2.55percent increases on both products respectively, ” a statement issued by COPEC-GH Executive Secretary Duncan Amoah explained on Wednesday 30 May 2018.
COPEC-GH called on government to implement measures that will cushion the public against the increments.
“We use this opportunity to encourage government on stepping up efforts at curbing the illegal fuel trade which is costing the state several hundreds of millions in revenue yearly in order to further reduce the overburdening taxes on fuel at the pumps currently.
“While Ghana might have missed the opportunity to hedge petroleum pricing whiles world prices were generally low, we still believe that option should be heavily exploited to ensure fuel prices are stabilised for the ordinary consumer whose budget on fuel keeps increasing by the weeks,” the statement added.
