The Chamber of Petroleum Consumers (COPEC) has projected that there would be slight adjustments in the prices of petroleum products in Ghana starting on February 1, 2025.
Diesel and liquefied petroleum gas (LPG) prices will rise as a result of the changes, although gasoline prices are anticipated to slightly decline.
COPEC ascribes these shifts to the depreciation of the Ghanaian cedi in relation to the US dollar and the increase in the price of crude oil globally. The price of crude oil has risen 5.68% globally, from $76.72 to $81.08 per barrel, but the cedi has lost value, falling from GHS14.85 to GHS15.09/$1 (-1.58%).
Projected Fuel Price Adjustments
Petrol: Expected to decrease by 2.93%, from GHS15.141 per litre to GHS14.697 per litre.
Diesel: Projected to rise by 3.00%, increasing from GHS15.407 per litre to GHS15.869 per litre.
LPG: Estimated to increase by 4.26%, reaching GHS17.224 per kilogram, making a 14.5kg cylinder cost around GHS249.74.
Based on market trends, petrol prices at the pump are expected to range between GHS13.96 – GHS15.43 per litre
, diesel between GHS15.08 – GHS16.66 per litre, and LPG between GHS16.36 – GHS18.08 per kilogram.
According to COPEC, a price correction was necessary because certain Oil Marketing Companies (OMCs) overcharged for gasoline during the previous pricing window.
In an effort to promote the use of LPG over firewood and slow down environmental deterioration, they are also pleading with the government to reconsider tariffs on petroleum goods.
