Petrol and diesel prices are expected to go up marginally at the pumps in the first pricing window beginning 1 May until 15 May, this year.
The Chamber of Petroleum Consumers (COPEC) is predicting that the prices at the pumps are expected to sell at GHC 9.538 per litre of petrol and GHC10.829 per litre for diesel.
Comparatively, the average price then goes up by Ghp19 per litre (1.94%) over that of the previous window, with petrol going by Ghp7 per litre, representing 0.7%, and diesel also being up by Ghp32 per litre, representing 3%.
This will bring the average prices of petrol and diesel for the next window to be at GHC10.183 per litre.
On the other hand, Liquefied Petroleum Gas (LPG) is likely to be sold at around Ghc10.093 per kilogramme, showing a reduction of about Ghp21 or 2% over that of the previous window.
Global effect
In a release copied to the Daily Graphic yesterday, it said the changes were reflective of the regular fuel price changes per window, changes to international fuel prices, the applicable dollar-exchange rate and the taxes on fuel.
“At the current average crude price of $104.56 per barrel, resulting in $1,057.44 per metric tonne for petrol and $1,138.33 per metric tonne for diesel on the international market, coupled with the exchange rate of $1: Ghc7.8165 and the government’s tax rebate of Ghp15 per litre still in place, COPEC is expecting the ex-pump prices of fuel for the next pricing window, from May 1 to May 15,” the release said.
It said considering no sudden jerks in crude oil pricing, which could lead to changes in petrol and diesel prices on the international market, then the ex-pump prices were expected to be within the projected figures for the next window.
“The expected increase in fuel prices is primarily due to the fallen dollar exchange rate and increase in prices of finished products (Petrol and Diesel) on the international market despite the fallen crude price.
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