<\/p>\n
The Chamber of Petroleum Consumers Ghana (COPEC), wants the Finance Ministry to break its silence on the rising cost of fuel prices.<\/p>\n
With fuel prices expected to hit at least GH\u00a210 per litre, COPEC\u2019s Executive Director, Ducan Amoah, said Ghana\u2019s economy is in danger of being wrecked.<\/p>\n
\u201cEverybody is complaining, but the finance guys who deal with these numbers have gone mute,\u201d he said on Eyewitness News<\/strong>.<\/p>\n \u201cLet the Finance Ministry stop sleeping and speak to these issues because clearly, these increases and the ones we are expecting on Wednesday is going to do only one thing. It is going to derail the entire economy completely.\u201d<\/p>\n After COPEC had warned that diesel could cross GH\u00a210 per litre with petrol rising to GH\u00a29 per litre from March 16, the National Petroleum Authority confirmed that increases of this nature are expected.<\/p>\n Also, on Eyewitness News<\/strong>, Abbas Ibrahim, the head of Pricing at the NPA, said \u201cdefinitely the price that we expect at the pump as has been projected is very likely to go beyond the GH\u00a29 mark.\u201d<\/p>\n He howver expects some variation based on the plans of the various oil marketing companies.<\/p>\n \u201cGH\u00a29 is the very realistic price we could be paying in the next window, but it could be higher than that or lower than that depending on the company\u2019s strategy.\u201d<\/p>\n COPEC attributed the expected increase to the rising cost of crude on the international market and the cedi which is currently depreciating among major trading currencies.<\/p>\n In a statement on Monday, it said the Free On Board prices of petrol increased by 19.28% from $917.48\/MT to 1094.33\/MT, diesel by 34.57% from $845.50\/MT to $1137.78\/MT and LPG by 17.42% from $845.93\/MT to $993.25\/MT between the first pricing window (1st-15th March 2022) and the second window (16th -31st March 2022).<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" The Chamber of Petroleum Consumers Ghana (COPEC), wants the Finance Ministry to break its silence on the rising cost of fuel prices. With fuel prices expected to hit at least GH\u00a210 per litre, COPEC\u2019s Executive Director, Ducan Amoah, said Ghana\u2019s economy is in danger of being wrecked. \u201cEverybody is complaining, but the finance guys who […]<\/p>\n","protected":false},"author":1,"featured_media":1022037,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[3363,6176,1963,599,225,1320,169],"class_list":["post-1022036","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-act","tag-derail","tag-economy","tag-fuel","tag-govt","tag-increases","tag-price"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1022036","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1022036"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1022036\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1022036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1022036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1022036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}