The Chamber of Petroleum Consumers, (COPEC) says there will be an increase in fuel prices starting on Friday, February 16, 2024.
According to COPEC, the price of petrol may go up by 6.63 percent, while that of diesel will increase by 8.18 percent.
Therefore, petrol will now sell between GH¢12.02 and GH¢13.29 per litre, from the previous GH¢11.87 per litre.
Diesel will now sell between GH¢13.21 and GH¢14.60 per litre from GH¢12.85 per litre. The projected retail price of Liquified Petroleum Gas (LPG) is expected to average at GH¢13.24 per kilogramme.
According to COPEC, this is within a plus or minus 5 percent margin of error. The increment is as a result of the depreciation of the cedi during the period and rising price of finished petroleum products on the international market.
COPEC maintained that the government should desist from the practice of increasing taxes and margins on all petroleum products as it is currently doing, adding, that this practice of sneaking in tax increases on the price buildup only further increases the economic pressure on Ghanaians.
Source: myjoyonline
