Duncan Amoah
The Chamber of Petroleum Consumers (COPEC) has projected significant increases in the prices of petrol, diesel, and liquefied petroleum gas (LPG) in the second pricing window of the month.
In a statement signed by its Executive Secretary, Duncan Amoah, COPEC said the hikes will take effect from September 16, 2025.
According to the release, petrol prices are expected to rise by nearly four percent, while diesel and LPG could see sharper increases of more than nine percent and seven percent, respectively.
The hikes come despite a slight dip in global crude oil prices, which fell by 0.52 percent from US$67.67 to US$67.32 per barrel.
The primary driver of the expected increases, COPEC explained, is the sharp depreciation of the cedi, which lost 8.62 percent of its value against the US dollar during the current pricing window.
COPEC further noted that international Free on Board (FOB) prices for refined products also recorded increases, with petrol rising from US$725.53 to US$742.79 per metric tonne, diesel from US$664.68 to US$690.65 per metric tonne, and LPG from US$467.80 to US$472.71 per metric tonne.
The combined effect of these international price movements and the weakened local currency, it said, has pushed projected mean retail prices to new highs.
The chamber has, however, appealed to Oil Marketing Companies (OMCs) to absorb part of the anticipated increases by reducing their margins in order to cushion consumers from the full impact of the adjustments.
By Vera Owusu Sarpong.