Fuel prices to remain stable – COPEC

Prices of Petrol and Diesel are likely to remain unchanged in the first pricing window of October.

Per projections from the Chamber of Petroleum Consumers (COPEC), there could be a one percent increase at the pumps, but Oil Marketing Companies (OMCs) have agreed not to pass on the cost to consumers due to competition.

“There have been some price variations as far us international market pricing is concerned. Again, there has been some relative stability with the local currency in the last two weeks. The pumps could have reflected some on percent upward adjustment, but we are confident that prices will remain at the current levels”, says Duncan Amoah, Executive Secretary of COPEC.

Currently petrol is being sold at GHS 12.97 per litre and diesel is also selling at GHS 13.43 per litre.

“It is not likely there be an increase and it is unlikely there will be a reduction. The OMCs due to competition are very likely to main the fuel prices.”, Duncan Amoah added.

Source: Citi Business News