Fuel Prices to go up on May 1 by 3% – COPEC

Fuel Prices reduced at th pumps
Fuel Prices reduced at th pumps

The Chamber of Petroleum Consumers-Ghana (COPEC), has stated that its projection for the following pricing window exhibits that prices of petroleum merchandise will see a marginal increase  of 3% from Sunday May 1, 2022.

In a media release making airwaves, the vitality assumed tank mentioned it expects petrol and diesel to be bought at GH¢ 9.538 and GH¢ 10.829 per litre respectively, bringing the typical value of each merchandise for the following window to GH¢10.183 a litre.

This will increase comply with the common fuel value adjustments per window, worldwide fuel prices, the relevant dollar-exchange price and the taxes on fuel.

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The calculations have been additionally primarily based on the present common crude value of $ 104.56 per barrel, ensuing in $ 1,057.44 per metric tonne for petrol, and $1,138.33 metric tonne for diesel on the International market.

Also enjoying a key function in the projection is the trade price of 1$ to GH¢7.8165, and the federal government’s tax rebate of 15 GHp per litre nonetheless in place.

Comparatively, the typical value goes up by 19 GHp per litle (1.94%) over that of the earlier window, with petrol going up by 7 GHp a litre (0.7%) and diesel additionally being up by 32 GHp per litre (3%).

COPEC is anticipating these new ex-pump prices of fuel for the following pricing Window, from May 1-15, 2022.

In the meantime, Liquified Petroleum Gas (LPG) is more likely to be bought at about GHȼ10.093/kg exhibiting a discount of about 21 GHp (2%) over that of the earlier window.

SOURCE: Coverghana.com.gh

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