Petrol and diesel prices likely to go down, LPG to increase – COPEC

Related Articles

NPA seizes 181,000 litres of smuggled crude oil and diesel in Western Region

6 hours ago

ECG and NEDCo release tariff reckoner for new power tariffs

2 days ago

Take key lessons from Sweden to reduce tobacco use – Harm Reduction Alliance urges

2 days ago

The Chamber of Petroleum Consumers (COPEC) is predicting a marginal reduction in prices of petrol and diesel in the next pricing window beginning on Wednesday, November 16.

But the price of Liquefied Petroleum Gas (LPG) is predicted to increase.

A press statement issued on Tuesday and signed by the Executive Secretary of COPEC said the price of petrol is likely to reduce to ¢16.07 per litre.

“The international benchmarks saw a slight increase in price by less than $6/mt from $963.43 to $969.08, with a relative stability and availability of the forex to the petroleum importation market, retail prices could likely move downwards to ¢16.07/L from averages of 17.42/L.”

The price of diesel is likely to be adjusted downwards to ¢20.25.

“International price benchmarks have seen diesel prices decline by $123/mt from $1,220.82/mt to $1,097.35, the expected retail price average could decline from current averages of 23.43/L to averages of GHS20.25/L.

However, for LPG, the statement attributed the expected increase in price to an increase in its international benchmarks.

CLICK HERE TO DOWNLOAD PRESS RADIO MOBILE APP

“International benchmarks for LPG have seen an increase of about $32 from $598.27 to $630.56, this could be expected to lead to an increase in retail price on current retail averages of 12.10/kg to a likely retail price of 13.51/kg,” the statement added.