The Chamber of Petroleum Consumers (COPEC) forecasts that prices at gas stations across the nation will begin to slightly decline on Monday, October 16, 2023.
The expected decline in fuel prices was explained by COPEC’s Executive Secretary, Duncan Amoah, in a statement released on Friday. He cited the decline in global product prices and the apparent strengthening of the Ghanaian cedi against the US dollar.
COPEC predicts that during the second pricing window of October, beginning on October 16, 2023, as scheduled, the price of gasoline may drop to GH12.098 per liter and the price of diesel may drop to GH12.694 per liter.
“The second pricing window for the month of October under the National Petroleum Authority’s price deregulation program on petroleum pricing is set to commence from Monday the 16th of October”
“Indications of prices based on international price movements and the forex performance over the past forthright points to some marginal reductions across pumps for the coming window as confirmed by CBOD petroleum pricing outlook for the window.”
Currently, the average cost of a liter of gasoline in Ghana is GH12.63, while the cost of a liter of diesel is GH13.40.
