In this pricing window [July], the Chamber of Petroleum Consumers (COPEC) has forecast a slight increase in fuel prices. The Executive Secretary of COPEC, Duncan Amoah, predicts that the cost of gasoline and diesel will rise at different pumps by 2.6% and 2.4%, respectively. But he pointed out that the cost of liquefied petroleum gas (LPG) is still the same. The data we currently have for July indicates a 2.6% increase in gasoline and a 2.4% increase in diesel, with LPG likely to remain steady. July will reveal if they will take what they could have done in the current window into the next window. But obviously, you should expect to spend a little more for gasoline and diesel the following week,” Mr. Amoah told StarrNews. He claimed that the depreciation of the local currency, the Cedi, in comparison to the main trading currency, the dollar, was the cause of the rise in petroleum products. However, according to the Institute for Energy Security (IES), prices for diesel and liquefied petroleum gas are predicted to slightly decline in the first two weeks of July. The worldwide gasoline market’s different price modifications, which will have a favorable impact on the local market, were cited by the IES as the cause of the minor decline.
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