Fuel, transport fares to go up on Monday – Check the rate
Ghanaians are facing another round of fuel price increases, with the Chamber for Petroleum Consumers (COPEC) predicting a hike in prices at the pumps in the first pricing window of July 2024.
According to COPEC, the price of petrol is expected to rise by 2.17 percent, from the current mean pump price of GH¢14.17 per litre to GH¢15.20 per litre. Diesel prices are also expected to increase to GH¢15.21 per litre, while liquefied petroleum gas (LPG) prices may range between GH¢13.24 per kg and GH¢14.64 per kg.
The anticipated price hike is attributed to the further depreciation of the cedi against the dollar, which has fallen from GH¢14.4788 to GH¢15.2779.
COPEC is urging the government to take measures to mitigate the impact of the price increase on consumers. The chamber is calling on the government to reduce taxes on LPG or subsidize its price to promote nationwide accessibility and usage, which would help protect the environment.
Additionally, COPEC is appealing to the government to expedite efforts to revive the Tema Oil Refinery (TOR) to reduce reliance on imported finished products and associated fuel contamination.
The predicted price hike is expected to affect consumers and businesses across the country, and may lead to increased transportation costs and higher prices for goods and services.
