{"id":1249094,"date":"2022-11-11T17:28:42","date_gmt":"2022-11-11T17:28:42","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/11\/11\/fuel-price-to-reduce-by-next-week-copec\/"},"modified":"2022-11-11T17:28:42","modified_gmt":"2022-11-11T17:28:42","slug":"fuel-price-to-reduce-by-next-week-copec","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/11\/11\/fuel-price-to-reduce-by-next-week-copec\/","title":{"rendered":"Fuel price to reduce by next week &#8211; COPEC"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"td-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"696\" height=\"392\" class=\"entry-thumb\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/04\/1651223143_660_WhatsApp-Image-2022-02-17-at-2.31.50-PM-696x392.jpeg\"   alt=\"\" title=\"fuel\"\/><\/div>\n<div class=\"youtube-embed\" data-video_id=\"wT2J1LxPV2U\"><iframe loading=\"lazy\" title=\"Fuel prices expected to reduce by next week - COPEC\" width=\"696\" height=\"392\" src=\"https:\/\/www.youtube.com\/embed\/wT2J1LxPV2U?feature=oembed&#038;enablejsapi=1\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/div>\n<p>The Chamber of Petroleum Consumers (COPEC) has announced that fuel prices are likely to be reduced by Monday, November 14, 2022.<\/p>\n<p>There has been a recent hike in fuel prices, including diesel and petrol. Diesel is currently selling for more than GH\u00a223, while the price of petrol is hovering around GH\u00a218.<\/p>\n<p>But speaking to Roselyn Felli on <strong>Prime Morning<\/strong>, on Wednesday, the Executive Secretary of the Chamber, Duncan Amoah, indicated that measures are being put in place to help subsidise the rising prices.<\/p>\n<p><!-- \/22191989129,1002554\/MGL\/mgl_ado_atunwa_300x250 --><\/p>\n<p>\u201cWe will be expecting diesel to drop from GH\u00a223 to somewhere around GH\u00a221.19, and the petrol will also drop from GH\u00a217.99 to somewhere GH\u00a217.10 or GH\u00a217.00.<\/p>\n<p>\u201cAll things being equal, diesel could go down by GH\u00a22.00 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,\u201d he said.<\/p>\n<p>Mr. Amoah stated that the rise is due to the increase in taxes on petrol to around 422% within the year.<\/p>\n<p>He noted that the National Petroleum Authority (NPA) should not be blamed for the increase in prices; instead, he believes it is due to mismanagement by the government.<\/p>\n<p>He, therefore, wants the government to minimise the increase in petroleum taxes, saying it may lead to loss of jobs in the petroleum sector.<\/p>\n<p>Meanwhile, the Public Relations Officer of the National Petroleum Authority (NPA), Mohammed Abdul-Kudus, is of the opinion that the increment in prices should be blamed on the cedi depreciation and not taxes.<\/p>\n<p>According to him, deregulation of the fuel prices distorts the communication between the Authority and Oil Marketing Companies (OMCs) when some companies\u2019 prices are different.<\/p>\n<p>\u201cAnother thing that has not helped us to a large extent has been the instability of our currency. We all know the dynamics in the management of forex around the francophone countries that normally guarantee them a certain stability on their currency,\u201d he explained.<\/p>\n<p>Mr. Abdul-Kudus believes there would not be changes in prices even when the government subsidises the prices of products.<\/p>\n<p>            <!--  [embed]https:\/\/www.youtube.com\/watch?v=videoseries[\/embed]<!--\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe>--><\/p>\n<div class=\"youtube-embed\" data-video_id=\"CvPY7LG0bT4\"><iframe loading=\"lazy\" title=\"Tamale Market Fire: Petrol gallon causes Wednesday\u2019s fire, investigations reveal (10-11-22)\" width=\"696\" height=\"392\" src=\"https:\/\/www.youtube.com\/embed\/CvPY7LG0bT4?feature=oembed&#038;enablejsapi=1\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Chamber of Petroleum Consumers (COPEC) has announced that fuel prices are likely to be reduced by Monday, November 14, 2022. There has been a recent hike in fuel prices, including diesel and petrol. Diesel is currently selling for more than GH\u00a223, while the price of petrol is hovering around GH\u00a218. But speaking to Roselyn [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1070659,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[3493,599,169,1312,602],"class_list":["post-1249094","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-copec","tag-fuel","tag-price","tag-reduce","tag-week"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1249094","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=1249094"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1249094\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1249094"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1249094"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1249094"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}