The Chamber for Petroleum Shoppers (COPEC) has projected an increase in gasoline costs for the primary pricing window of July 2024.
In accordance with COPEC, retail costs of petrol, diesel, and liquefied petroleum fuel (LPG) are anticipated to extend throughout the nation.
This anticipated hike is attributed primarily to the additional depreciation of the Cedi towards the Greenback, with the change charge dropping from a mean of $1 ¢14.4788 to $1
¢15.2779, marking a 1.89% decline.
COPEC forecasts that the retail value of petrol will improve by 2.17%, from the present common pump value of GH¢14.17 per litre to GH¢15.20 per litre.
Diesel is anticipated to see an identical rise, reaching GH¢15.21 per litre. LPG costs are projected to vary between GH¢13.24 per kg and GH¢14.64 per kg.
In its projections, COPEC emphasised the necessity for the federal government to scale back taxes on LPG or subsidize its value to advertise its nationwide accessibility and utilization.
This measure would assist scale back environmental degradation triggered by means of firewood. COPEC additionally urged the federal government to expedite the reactivation of the Tema Oil Refinery (TOR) to reduce the importation of completed merchandise and related gasoline contamination.
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