Fuel prices to soon cross 8ghc – COPEC

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According to the Chamber of Petroleum Consumers Ghana (COPEC), gasoline prices will soon surpass GH8 and the Ghanaian government must take strategic steps to mitigate the effect on consumers.

COPEC’s Executive Secretary, Duncan Amoah, slammed the government’s attempts to control rising gasoline costs.

“In reality, rising gasoline prices are one of the factors threatening the economy. The year started with GH6.6 gasoline.

We currently have OMCs available for GH7.50. We estimate that by the end of March, assuming present international pricing trends continue, we would exceed the GH8.00 mark,” Amoah told Citi FM in Accra.

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The National Petroleum Authority (NPA) has reintroduced the Price Stabilisation and Energy Recovery Levy (PSRL), resulting in modest increases in gasoline prices throughout the nation. The scenario, say drivers and owners of private automobiles, will exacerbate their current difficulties.

 

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Meanwhile, the Coalition of Transport Operators has announced that, as of Monday, February 7, transportation rates would be hiked by 30 percent across the board.

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