Source: newsthemegh.com
Prices for COPEC and diesel are anticipated to increase starting on Friday, June 16, 2023.
However, it’s anticipated that the cost of liquefied petroleum gas (LPG) won’t change. Since the beginning of June 2023, when the price of gasoline and diesel increased, this will be the first time in a row.
The predicted increase in gasoline and diesel prices, according to the Chamber for Petroleum Consumers (COPEC), is mostly the result of the cedi’s 4.16% depreciation against the dollar over the past two weeks.
“The crude price has decreased from the mean price of $76.04 per barrel to $75.46 per barrel (-0.76%), but the forex or dollar exchange rate has gradually increased from a prior average of 11.3394 to 11.8111 (4.16%) per $1,” it noted.
According to COPEC, the average price of gasoline will be GHC12.21 per liter, while the average price of diesel would be GHC12.27 per liter.
The anticipated price for LPG is 10.40 per kilogram. LPG cylinders weighing 14.5 kilograms will therefore cost GHC150.85.
Therefore, COPEC is pleading with the government to lower LPG taxes or subsidize the cost of the product in order to promote or encourage its widespread availability and use, which will ultimately aid in environmental preservation.
Additionally, the overall taxes and levies at the moment make up around 25% of the retail costs of gasoline and diesel. As a result, COPEC is pushing for the elimination or reduction of some fuel taxes to ease the burden on consumers.