The Chamber of Petroleum Consumers (COPEC) has hinted that diesel and Liquefied Petroleum Gas (LPG) prices are set to decrease, marking the second consecutive drop in January.
The Chamber has said the drop will take effect from Wednesday, January 17, 2024.
Despite the slight depreciation of the Ghana Cedi recently, COPEC has noted the yet to be finalised diesel and LPG price reduction comes as a result of a global drop in finished product prices.
Petrol prices, however, are expected to remain relatively stable, with a possible upward adjustment of about 1%.
Duncan Amoah, Executive Secretary of COPEC has been explaining how the international market trends are contributing to these adjustments.
“Diesel prices dipped by roughly 2.8% per metric ton on the global market, while petrol experienced a slight increase of 3.6%. The cedi has remained relatively stable overall, although we’ve seen a 0.47-point dip in exchange rates,” Amoah said.
He added, “overall, what our expectation is that prices of petrol are likely to remain stable with a 1 per cent upward adjustment.
“Diesel is likely to see some reduction while LGP is also likely to see some reduction effective Wednesday which is the second window for January.”
READ ALSO: GPRTU reiterates 60% fare increment if…
