Source: newsthemegh.com
The cost of petroleum products on the local market will not change in October.
According to predictions by the Chamber of Petroleum customers (COPEC), Oil Marketing Companies (OMCs) will not pass on the cost to customers despite the possibility of a 1% increase at the pump because of competition.
According to Duncan Amoah, Executive Secretary of COPEC, the stability of the Cedi and the stable price of oil on the global market are to blame for the stability of fuel prices in the nation.
The local currency has been rather stable over the past two weeks, but there have been some price swings in terms of pricing on the international market.
“The pump price could have reflected some 1% upward adjustment, but having spoken to a good number of oil marketing companies, we are confident that prices will remain at the current level so it is not likely you will get an increase, it is unlikely there will be a reduction, and the OMCs are likely to maintain pump prices at the level they currently sell for the first pricing window in the month of October,” said COPEC.