Fuel Prices to increase by 5.5% From August 16

The Institute of Energy Security (IES) recently predicted that despite the 8.48% fall in the price of Gasoline, 5.86% fall in the price of LPG, and the 7.26% fall in Gasol product in the international market, the prices of fuel in the local market may see a marginally price increase at the pumps.

And as part of the adjustments for the 2nd pricing window of August, Prices of petroleum products are expected to see a 5.5℅ rise beginning today, August 16.

This was revealed by the Executive Secretary for Chamber of Petroleum Consumers-Ghana (COPEC), Duncan Amoah.

According to him, despite a reduction in price of crude oil on the international market, the depreciation of the cedi continues to impact fuel prices at the pumps.

The two pricing windows every month afford Oil Marketing Companies the opportunity to adjust prices of the products.