The Chamber of Petroleum Consumers (COPEC) has projected stable fuel prices across the country for the first pricing window of August 2025, citing minimal changes in international market prices and exchange rates.
In a statement issued on Thursday, COPEC indicated that most Oil Marketing Companies (OMCs) are expected to maintain their current fuel prices, with only marginal reductions projected for petrol, diesel, and liquefied petroleum gas (LPG).
According to the analysis, the mean retail price of petrol is expected to drop by 0.98%, from the current GHS12.53 per litre to an estimated GHS12.41 per litre. Diesel prices are projected to remain unchanged, hovering around GHS14.12 per litre, reflecting a marginal decline of 0.01%. LPG prices, on the other hand, are expected to see a 1.69% drop to GHS11.34 per kilogram.
“These projections assume no major fluctuations in international FOB prices or the Cedi-Dollar exchange rate,” COPEC stated. The Cedi has slightly depreciated from GHS10.5791 to GHS10.6803 per US dollar, while crude oil prices have seen a modest drop from $70.62 to $70.52 per barrel.
The chamber noted that a 14.5kg LPG cylinder is expected to sell at approximately GHS164.39 during the pricing window beginning August 1.
The breakdown of projected Prices include Petrol GHS12.41/L (between GHS11.78/L and GHS13.02/L), Diesel: GHS14.12/L (between GHS13.42/L and GHS14.83/L) LPG: GHS11.34/kg (between GHS10.77/kg and GHS11.90/kg) and Mean petrol and diesel price: GHS13.26/L.
COPEC expressed appreciation for the relative stability in the exchange rate but reiterated its call on government to reduce taxes on LPG or provide subsidies to promote clean energy usage, particularly in rural areas where firewood remains a primary fuel source.
Currently, taxes and levies account for about 31.97% of the retail prices of petrol and diesel.
COPEC also urged the government to reconsider fuel tax policies, explore mechanisms to vary levies in line with exchange rate movements, and fast-track the revival of the Tema Oil Refinery (TOR) to reduce reliance on imported finished petroleum products.
Executive Secretary Duncan Amoah further appealed to OMCs not to exploit the newly introduced e-levy to justify any unwarranted price hikes and encouraged all fuel and LPG stations to visibly display their retail prices to ensure transparency for consumers.
Source: www.kumasimail.com
