Petrol Prices May Fall by Up to 2.9%, Diesel Rises as COMAC Releases New Data
The Chamber of Oil Marketing Companies (COMAC) has released data indicating that petrol prices may drop to about GH¢15.82 per litre, while diesel could rise to approximately GH¢17.73 per litre.
This projected decline in petrol prices is attributed to a 2.90% decrease from current levels, while diesel prices are expected to increase by 1.39%. Liquefied Petroleum Gas (LPG) prices are forecasted to fall marginally by 0.93% to about GH¢16.21 per kilogramme.
The National Petroleum Authority (NPA) has reduced the price floors for the second pricing window of August, which began on August 16. The petrol price floor has been lowered from GH¢14.53 to GH¢13.92 per litre, and the diesel price floor has been reduced from GH¢16.97 to GH¢15.19 per litre.
Despite these changes, the Chief Executive of the Chamber of Petroleum Consumers (COPEC) expects most Oil Marketing Companies (OMCs) to maintain their existing pump prices due to flexibility in setting prices within the regulatory framework.