COPECGH calls for price cut in fuel prices by between 1 and 4% in the first pricing window for February…

The Chamber of Petroleum Consumers Ghana is pushing for a cut in fuel prices by between 1 and 4% in the first pricing window for February. In a statement, the Chamber said prices of fuel products within the country had seen some cumulative 14 – 17% increases over the past three pricing windows.

It said the cedi, which has been the main challenge over the past three windows, seems to have made some gains to stabilise over the past two weeks to currently close trading at an exchange of 4.2798 to a dollar while world market indices have seen some drops by over $2 per barrel to currently trade at around $53/barrel from the previous levels of around $56 per barrel.

The Chamber further noted that levels of taxes, which have been “one major concern for most Ghanaian petroleum users continue to remain at the same levels though some aspects of the levies continue to rise anytime ex-refinery prices go up”.

The group said it expected fairness in the current price deregulation regime which dictates that prices should reflect current trends. You may want to hear the Executive  Secretary of the Chamber Duncan Amoah.

Credit: classfm