COPEC not expecting any increases in fuel prices for September

The Chamber of Petroleum Consumers (COPEC) Ghana has predicted stability in the fuel pricing window for the first part of the month of September. In its bi-weekly review of the National Petroleum Authority’s Price Liberalisation Programme, COPEC admitted that though there was an average 3 per cent upward adjustment in the last couple of weeks for August, prices for the first two weeks in September will record no increases. It noted that current pump prices for petrol and diesel at most oil-marketing companies (OMCs) average GH¢18.4 and GH¢18.31 respectively. “World market prices over the past two week window has seen some decline in respect of  AGO, the old specs of 1000ppm diesel saw a decline of about 11 dollars per metric to close trading at $461.750/metric whiles the new 10ppm sulphur spec also saw $11.3 decline to close trading at $479.250/metric,” COPEC said in a statement released on Friday. “The drop in prices of the two specs translates to averages of negative 3 pesewas per litre on current pump prices of diesel.” It said petrol saw a marginal increase of about $2.64 on the world market. “This represents 1 pesewa impact on current pump prices but it’s likely to be contained between the Bulk Distribution Companies and the Oil Marketing Companies.” It also noted how foreign exchange has remained fairly stable in the past couple of weeks. “Prices across most pumps are likely to remain stable with no expected increases on current pump prices,” the statement emphasized. Source: 3news.com|Ghana ]]>

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