The Chamber of Petroleum Consumers (COPEC) has hinted that consumers should anticipate a little cut in gas prices on Monday, November 14, 2022.
According to Executive Secretary Duncan Amoah, the Chamber is taking steps to lessen the effects of the rising price of gasoline.
“We estimate that the cost of diesel will drop from GH23 to GH21.19 and that the cost of gasoline would drop from GH17.99 to GH17.10 or GH17.00.
“Based on the FX data that we have collected over the previous week, diesel might go down by GH2.00 a liter and gasoline could fall close to a cedi per liter,” he pointed out.
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He noted, though, that the recent rises in the cost of diesel, gasoline, and kerosene are the result of higher taxes on petroleum products.
Meanwhile, the National Petroleum Authority (NPA), the nation’s pricing authority, was not to blame for the increase in gas prices, according to Mr. Amoah.
Instead, he attributed the nation’s economic mismanagement to the government.
In order to avoid job losses in the petroleum business, he is pleading with the government to keep the increase in fuel taxes to a minimum.
Currently, the cost of diesel is about GH$23, while the cost of regular gasoline is about GH$18.
Mohammed Abdul-Kudus, the NPA’s public relations officer, concurs that the increase in costs is more likely to be attributed to the dropping value of the cedi than to taxes.
Conclusion
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