Fuel price to reduce drastically by next week- NewsNowGh predicts

Fuel price to reduce drastically by next week- NewsNowGh predicts

NewsNowGh has been on grounds with respect to the changes in the prices of fuel. The indicators have been well studied and we can conclude that prices of fuel will go down by next week. The cedi has appreciated in value to the dollar over the past two weeks. This has an impact.

The Chamber of Petroleum Consumers (COPEC) has also announced that fuel prices are likely to be reduced by Monday, November 14, 2022.

CURRENT PRICES OF FUEL

There has been a recent hike in fuel prices, including diesel and petrol. Diesel is currently selling for more than GH¢23, while the price of petrol is hovering around GH¢18.

NEW PRICES OF FUEL TO EXPECT

Executive Secretary of the Chamber, Duncan Amoah, indicated to NewsNowGh that measures are being put in place to help subsidise the rising prices.

“We will be expecting diesel to drop from GH¢23 to somewhere around GH¢21.19, and the petrol will also drop from GH¢17.99 to somewhere GH¢17.10 or GH¢17.00. “All things being equal, diesel could go down by GH¢2.00 a litre and petrol could go close to a cedi per litre based on the forex numbers that we have picked over the past one week,” he said.

As to whether this will be stable throughout December, our next check will confirm that.

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