In the following pricing window, which starts on Wednesday, November 16, fuel users could experience a slight reprieve at the pumps.
It is anticipated that Patrol and Diesel prices will decrease.
However, it is anticipated that Liquefied Petroleum Gas (LPG) will increase in price.
The Chamber of Petroleum Consumers forecasts this (COPEC).
The price of Patrol is likely to drop to ¢16.07 per litre, according to a press release issued on Tuesday and signed by the Executive Secretary of COPEC.
“The international benchmarks saw a slight increase in price by less than $6/mt from $963.43 to $969.08, with a relative stability and availability of the forex to the petroleum importation market, retail prices could likely move downwards to ¢16.07/L from averages of 17.42/L.”
He predicted that the price of diesel would be reduced to ¢20.25.
“International price benchmarks have seen diesel prices decline by $123/mt from $1,220.82/mt to $1,097.35, the expected retail price average could decline from current averages of 23.43/L to averages of GHS20.25/L.
For LPG, however, the statement explained that higher worldwide standards were to blame for the anticipated price hike.
“International benchmarks for LPG have seen an increase of about $32 from $598.27 to $630.56, this could be expected to lead to an increase in retail price on current retail averages of 12.10/kg to a likely retail price of 13.51/kg,” the statement added.
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