Fuel prices to drop marginally in November’s second pricing window – COPEC

The Chamber of Petroleum Consumers (COPEC) has projected a slight reduction in fuel prices as the second pricing window of November begins on Saturday, November 16.

According to COPEC, the retail price of petrol is expected to decrease by 5.06%, dropping from the current average pump price of GHȼ14.30 per litre to a range of GHȼ12.90 to GHȼ14.26 per litre.

Similarly, diesel prices are anticipated to decline by 3.88%, reducing from the current average of GHȼ15.16 per litre to between GHȼ13.85 and GHȼ15.31 per litre.

Recent months have seen significant increases in refined petroleum product prices. For instance, state-owned GOIL raised the price of diesel from GHȼ14.90 per litre during October’s second pricing window to GHȼ15.45 per litre in November’s first pricing window.

COPEC’s forecast offers some relief to consumers burdened by the recent hikes. The adjustments reflect shifts in global oil prices and exchange rate dynamics.