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Good News As Fuel Prices Set To Decrease

The good news hitting fuel users and Ghanaians as a whole, reveals that, prices of petroleum products are set to decrease soon.

Mr. Duncan Amoah, the Chief Executive of Chamber of Petroleum Consumers, who revealed this, stated that, based on data from some Bulk Oil distributors, on pricing of products for the next two weeks, prices of Petroleum products are expected to witness some decline from this weekend (July 16), with diesel expected go down by more than 11%.

According to him, Petrol should go down by almost 4%, whilst LPG will fall by almost 10% per Kilogramme; adding that, there is every indication that fuel prices will decline by some 5% between the two products...that is petrol and diesel.

Bringing a sign of relieve to Ghanaians, Mr. Amoah said, “We pick every indication that pump prices will decline, or go down by some 5% between the two products – petrol and diesel. Diesel has gone down steeply, petrol has done about 3.8% reduction. Diesel has done almost 11% reduction”.

Mr. Amoah further revealed that, “the reintroduction of the rebate that, government through the Finance Ministry did (15 pesewas, and so plus or minus), you are looking at doing about 5.3% cut, effective second window July 2022; that means, in nominal terms, between 50 to 70 pesewas per liter reduction of petrol and diesel will be witnessed at the pump”.

Reacting to the expected increment of transport fares by transport unions, he said "we will plead with the transport unions to wait a while, and monitor trends with respect to fuel pricing before making any upward adjustment. We will make attempt to talk to them, to hold on a bit to see what the pumps throw at us. I’m sure their frustrations is also stemming, from increases over the past few weeks. We will personally make efforts; to at least get to them to say how they could hold, on to observe few days what pump prices become".

Content created and supplied by: CornerNewsUpdate (via Opera News )

Bulk Oil Chamber of Petroleum Consumers Duncan Amoah Ghanaians LPG


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