COPEC Announces Decrease in Diesel and LPG Prices in Ghana

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COPEC Announces Decrease in Diesel and LPG Prices in Ghana

The has revealed that diesel and prices in Ghana are expected to decrease, marking the second consecutive drop in January.

The anticipated reduction, effective from Wednesday, January 17, 2024, is attributed to a global decline in finished product prices despite a slight depreciation of the .

While petrol prices are expected to remain relatively stable, COPEC hinted at a potential upward adjustment of about 1%, the Executive Secretary of COPEC, explained that the drop in diesel and LPG prices is influenced by international market trends.

“Diesel prices dipped by roughly 2.8% per metric ton on the global market, while petrol experienced a slight increase of 3.6%. The cedi has remained relatively stable overall, although we’ve seen a 0.47-point dip in exchange rates,” Amoah stated.

He further elaborated,

“Overall, our expectation is that prices of petrol are likely to remain stable with a 1 per cent upward adjustment. Diesel is likely to see some reduction while LPG is also likely to see some reduction effective Wednesday, which is the second window for January.”

This announcement comes as a welcome development for consumers, offering a potential respite in the cost of diesel and LPG. The international market dynamics continue to play a crucial role in shaping fuel prices, and COPEC’s insights provide valuable information for consumers and businesses alike in Ghana.

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