From January 16, 2023, consumers can expect a reduction in the prices of diesel and liquefied petroleum gas (LPG), thanks to an announcement by the Chamber of Petroleum Consumers (COPEC). However, the cost of petrol will remain unchanged.
The price adjustment is a result of the decrease in the prices of finished products on the global market. This is despite a slight depreciation of the cedi over the last two weeks. COPEC anticipates that the average price of petrol will be GH¢11.71 per litre, while diesel is expected to be sold at GH¢12.13 per litre. LPG prices are projected to be GH¢12.30 per kilogram.
This reduction in fuel prices comes after a general decline in the prices of petroleum products in the domestic market at the beginning of 2024. Petrol was priced at an average of GH¢11.80, and diesel was available for GH¢12.25 per litre. LPG, on the other hand, was being sold at GH¢13 per kilogram.
In addition to the overall reduction, certain Oil Marketing Companies (OMCs) like Star Oil and Zen Petroleum further lowered their fuel prices. This initiative by these OMCs provides further relief to consumers.
As a result of these price adjustments, consumers can expect to save money when purchasing diesel and LPG. However, petrol prices, for now, remain unchanged
Source: Ngamegbulam Chidozie Stephen
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