According to hints dropped by the Chamber of Petroleum Consumers (COPEC), consumers should expect to see a modest decrease in gasoline prices on Monday, November 14, 2022.
Executive Secretary Duncan Amoah has said that the Chamber is taking action to mitigate the effects of the ever-increasing cost of gasoline.
We anticipate a decrease in the price of diesel from GH23 to GH21.19, and a decrease in the price of gasoline from GH17.99 to GH17.10 or GH17.00.
“Based on the FX data that we have collected over the previous one week, diesel might go down by GH2.00 a litre and gasoline could fall close to a cedi per litre,” he remarked on Joy Prime on November 9.
However, he clarified that the increased taxes on petroleum products are to blame for the recent increases in the price of diesel, gasoline, and kerosene.
Mr. Amoah continued by saying that the National Petroleum Authority (NPA), the country’s pricing regulator, is not to blame for the hike in gas prices.
Instead, he placed the responsibility on the government for economically mismanaging the nation.
He is concerned that a rise in petroleum taxes may result in a loss of employment in the petroleum industry and is urging the government to keep the increase to a minimum.
The current price of diesel is around GH$23, while the price of regular gasoline is approximately GH$18.
Mohammed Abdul-Kudus, the NPA’s public relations officer, agrees that the falling value of the cedi, rather than taxes, is to account for the rise in costs.