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Fuel prices could down by up to 6% – COPEC

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Consumers of petroleum products can look forwards to some further reductions in the prices of petroleum products on the Ghanaian market. This is after drops in the prices of same on the international market.

It could be recalled that the prices of petrol, diesel and LPG saw some marginal decreases during the 2nd pricing window of July 2022. Petrol went down by some 2.5 percent, diesel by some 4 percent while LPG went down by some 2 percent.

Due to further falls in the prices of crude oil on the international market, Ghanaians could see some 3 to 6 percent fall in the prices of fuel at the pumps. This is according to the Chamber of Petroleum Consumers (COPEC) Ghana.

Speaking to A1 Radio, the Monitoring and Evaluation Officer of COPEC, Sampson Addae was however worried that the Ghanaians may not get the full impact of the fall in prices of crude oil on the international market because of the depreciation of the cedi.

“We are to see some 3 to 6 percent drops in the prices of fuel. On the international market, we are seeing a significant reduction in the prices of fuel. It should translate into at least, 3 to 6 percent on the local market.”

“The cedi keeps on depreciating. Currently, it is being sold at Ghc8.80 to the dollar,” he added.

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

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