COPEC forecasts a rise in fuel prices, particularly diesel, impacting retail prices. Diesel is projected to increase by 22.91%, reaching GH¢22.42 per liter, while petrol will rise by 5.21%, reaching GH¢17.78 per liter. International crude oil prices are expected to remain elevated, contributing to this forecast. COPEC attributes this increase to rising global fuel demands and cedi depreciation. COPEC emphasized the importance of infrastructure investments, particularly at the Tema Oil Refinery (TOR), to mitigate the impact on consumers. COPEC expressed concern about OMCs maintaining competitive margins to protect consumers during this period.
Source: TV3
