The Chamber of Petroleum Consumers Ghana (COPEC) is projecting a 30 pesewas increase in fuel prices soon.
COPEC Executive Secretary, Duncan Amoah, in a statement said, “From 16th Feb 2022, at FOB price of $880.79, our projected Ex-pump price is GHS7.764, so it’s expected that the maximum ex-pump price shall be hovering around GHS7.750.”
“From 16th February, 2022, at FOB price of $828.58, our projected ex-pump price is GHS7.981, so it’s expected that the maximum ex-pump price shall be hovering around GHS7.950,” he added.
The price of fuel has increased by about GHS1 since the start of the year and already, conversations about an increase in transport fares are rife.
Currently, prices on the market are selling at an average of GHS6.4 per litre.
The National Petroleum Commission recently reinstated the Price Stabilisation and Recovery Levy (PSRL) a move, the NPA justified, was to enable it to continue delivering on the mandate of the levy.
The temporary removal gave consumers respites of 6 pesewas per litre on petrol, fourteen pesewas per litre (GHp14/Lt) on diesel, and fourteen pesewas per kilogram (GHp14/Kg) on LPG.
While consumers are still trying to get used to the price increase, they would have to expect another increment which has an impact of about double that of the reintroduction of the Price stabilisation and Recovery levy.
By Jamila Akweley Okertchiri