Ghanaians can expect marginal changes in petroleum prices starting February 1, 2025, according to projections from the Chamber of Petroleum Consumers (COPEC). Apexnewsgh reports
The adjustments will see a slight increase in diesel and liquefied petroleum gas (LPG) prices, while petrol prices are expected to drop marginally.
COPEC attributes these changes to the rising global crude oil prices and the depreciation of the Ghanaian cedi against the US dollar. Global crude oil prices have increased by 5.68%, from $76.72 per barrel to $81.08 per barrel, while the cedi has depreciated from GHS14.85/$1 to GHS15.09/$1 (-1.58%).
The projected fuel price adjustments are as follows:
– Petrol: Expected to decrease by 2.93%, from GHS15.141 per litre to GHS14.697 per litre.
– Diesel: Projected to rise by 3.00%, increasing from GHS15.407 per litre to GHS15.869 per litre.
– LPG: Estimated to increase by 4.26%, reaching GHS17.224 per kilogram, making a 14.5kg cylinder cost around GHS249.74.
COPEC also urged the government to review taxes on petroleum products, particularly LPG, to encourage its use over firewood and help curb environmental degradation. Currently, taxes and levies account for about 21.34% of petrol and diesel prices. A tax reduction could help ease the financial burden on consumers.
Source: Apexnewsgh.com
