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Fuel costs are expected to drop by 4%, according to the Chamber of Petroleum Consumers (COPEC).
As the world’s petroleum markets fluctuate, customers may expect respite from rising gasoline prices starting today, Monday, September 16, 2024.
COPEC said that the price reductions would be applicable to gasoline, diesel, and LPG in a statement released and signed by its Executive Secretary, Duncan Amoah.
“Barring any unforeseen major changes in global Petroleum FOB prices, indications across the downstream petroleum market are that the pump retail prices of Petrol, Diesel, and LPG are to go down to the benefit of consumers come the next window beginning 16 September 2024,” the statement said.
The average retail price of gasoline is predicted by COPEC to drop to GHS12.956 per liter, while the average retail price of diesel and LPG is predicted to drop to GHS13.642 per liter and GHS15.345 per kilogramme, respectively.
With crude oil prices hitting their lowest points of the year, the expected decline is linked to a decline in global petroleum prices.
To improve accessibility and encourage wider use, COPEC has responded by urging the government to lower taxes on fuel products, especially LPG.
COPEC contended that this action might lessen deforestation associated with the use of firewood.
In order to reduce dependency on imported refined fuels and address problems like fuel contamination, COPEC has also demanded that the Tema Oil Refinery (TOR) be revived.
Source: Ghanatodayonline.com
