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Petrol, Diesel could see 2%, 3% reduction on August 1 – COPEC

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The prices of petrol, diesel and LPG saw some marginal decreases during the 2nd pricing window of July, 2022.

“I can confirm that prices of petrol and diesel have gone down. For petrol, it has gone down by 2.5 percent. Diesel has gone down by 4 percent. Currently, the price per litre for petrol, when you take the price for Total, it has gone down from Ghc11.59 to Ghc11.30. Diesel has also been decreased from Ghc14.59 to Ghc13.99 per litre. For LPG, it went down by 2 percent,” Monitoring and Evaluation Officer at the Chamber of Petroleum Consumers (COPEC) Ghana, Sampson Addae said.

It would however be recalled that prices of petroleum products were expected to witness some decline from the previous weekend (July 16th), with diesel expected to go down by more than 11%.

This is based on data from some Bulk Oil distributors on the pricing of products for the next two weeks.

Petrol on the other hand was expected to go down by almost 4%, whilst LPG was expected to fall by almost 10% per Kilogramme.

COPEC Ghana, has again projected some further falls in the prices of diesel and petrol in the first pricing window of August 2022.

“We are expecting the prices to be reduced again. If you look at the figures that the NPA has brought, it means that there will be a reduction. We are expecting a 2-3 percent reduction. That is our expectation for the next pricing window.”

Mr. Addae explained that he would be surprised if the prices of fuel at the pumps go down. According to Mr. Addae, Oil Marketing Companies (OMCs) may not want to further reduce the prices to enable them recoup what was lost when prices continued to soar and yet prices at the pump remained relatively stable.

Source: A1radioonline.com|101.1MHz|Mark Kwasi Ahumah Smith|Ghana

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