The Chamber for Petroleum Consumers (COPEC) has forecasted a rise in fuel prices in the first pricing window of July 2024. Apexnewsgh reports
According to COPEC, the retail prices of petrol, diesel, and liquefied petroleum gas (LPG) are expected to increase at pumps nationwide.
The projected price increases are attributed to the depreciation of the cedi against the dollar, with the exchange rate dropping from $1:GH¢14.4788 to $1:GH¢15.2779 (-1.89%).
COPEC predicts that petrol prices will rise by 2.17% to GH¢15.20 per litre, while diesel prices are expected to reach GH¢15.21 per litre. LPG prices are projected to range between GH¢13.24 per kg and GH¢14.64 per kg.
COPEC has urged the government to reduce taxes on LPG or subsidize its price to promote nationwide accessibility and usage, which would help reduce environmental degradation caused by firewood use.
Additionally, COPEC appealed to the government to revive the Tema Oil Refinery (TOR) to minimize the importation of finished products and associated fuel contamination.
Source: Apexnewsgh.com
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