A slight easing at the pump is on the horizon from today, December 16, as fuel prices are expected to dip modestly. This outlook comes from the Chamber of Oil Marketing Companies (COMAC), whose guidance informs how oil marketers set prices, and it has been reported by JoyBusiness.
Projected declines
Petrol prices are forecast to decrease by roughly 1.64% to 3.89%, translating to about GH¢12.90 per litre.
Diesel is anticipated to fall by as much as 4.59%, putting a litre around GH¢13.20.
Liquefied Petroleum Gas (LPG) is also likely to drop, by up to 2.16%, with a kilogram priced near GH¢14.00.
What’s driving the change
COMAC attributes the expected price relief mainly to lower international prices for finished petroleum products. Despite a small uptick in crude oil, global oversupply has driven a downward trend in most refined fuels.
In fact, petrol has decreased by about 6.5%, diesel by about 11.67%, and LPG by roughly 0.22% in the international market.
While the local cedi slipped modestly from GH¢11.14 to GH¢11.43 during the period, the price reduction in Ghana aligns with holiday-season demand dynamics.
Industry perspectives
Some market analysts quoted by JoyBusiness suggest that more decisive steps to stabilise the cedi could help sustain the price relief at the pumps over time. Others contend that absent the currency pressures, the second pricing window might have shown even larger reductions.
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