Price of petrol to fall in Ghana

Consumers of petroleum products, especially petrol and diesel will enjoy a marginal decrease in the prices of the product at the end of the month of September.

Executive Secretary of COPEC, Duncan Amoah
Executive Secretary of COPEC, Duncan Amoah

This was revealed by the Chamber of Petroleum Consumers (COPEC).

In an interview with Citi Business News, Executive Secretary of COPEC, Duncan Amoah, said consumers should expect the reduction by the end of September.

He noted that the reduction will be either one or two percent in prices of petrol and diesel respectively.

Our check with the platt benchmark indicates petrol probably has lost about 4 pesewas per litre if you do just the international benchmark platt values. Again, diesel also seems to have recorded some 10 pesewas reduction. If all things are held equal, if the cedi whose performance has been quite stable over the past couple of weeks should be taken into account, Ghanaians should expect at least some marginal reduction in pump prices,” he stated.

The Chamber made this prediction looking at the world crude oil prices and as major oil-producing countries ramp up their production after the negative impact of COVID-19.

Petrol is currently selling at GHS4.89 per litre while diesel is selling at GHS4.91 litre.

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