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Fuel prices go up by 4% – COPEC claims

The Chamber of Petroleum Consumers (COPEC) says it can confirm a four percent increase in fuel prices at most of the filling stations.

The claim contradicts announcement by the National Petroleum Authority that prices of LPG and petrol at the pumps would remain unchanged from January 1, 2018.

According to the NPA, aside the drop in crude prices at the world market, as well as stability in the exchange rate, other interventions helped in stabilising the prices.

But the Executive Secretary of COPEC, Ghana, Duncan Amoah insists,”we can confirm that fuel prices across some pumps have been adjusted by as much as 4%” from Thursday.

Fuel prices that used to trade at GHc4.490/litre for both petrol and diesel have seen an increment to 4.670, a difference of about 18p, he said.

Also price per gallon with regards to the new increases is now GHc21.015 from the previous Ghc20.20 for both products, he said.

“These increases coming on the back of an earlier threat by the GPRTU on its intended transport fare increases will certainly put a lot of pressure of the consuming and commuting public.

“We reiterate our calls on the government to take a second look at the current price build up as we believe these increases will continue for a very long time if nothing is done about the pricing template and the numerous taxes.”

Read also: Fuel prices remain unchanged from January

Source; 3news.com | Ghana

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