COPEC calls for 30–40p cut in petrol price

Executive Secretary of the Chamber of Petroleum Consumers (COPEC), Duncan Amoah, has called on government to consider reducing the price of petrol by between 30 and 40 pesewas per litre to provide relief to consumers.

His call comes as petrol and diesel prices are projected to increase from September 1, 2026, following a rise in global crude oil and refined petroleum product prices.The latest pricing outlook by the Chamber of Oil Marketing Companies (COMAC) projects a 4.80% increase in petrol prices and a 2.10% rise in diesel prices. Petrol is expected to increase to GH¢16.39 per litre, while diesel is projected to sell at GH¢17.60 per litre.

Speaking on Channel One Newsroom on Monday, August 31, Mr Amoah acknowledged government’s recent intervention to reduce the impact of rising fuel prices, particularly the GH¢2 per litre reduction in the regulatory margin on diesel.

He, however, said a similar intervention should be considered for petrol consumers.

“I am asking if the government can also look at some 30 to 40 peswas reduction for the price of petrol, because as we speak, petrol is 16, diesel is 17. I do think that maybe some amnesty could also be extended to those who buy petrol such that they could also feel some relief from the government,” he said. Mr Amoah described government’s intervention as a demonstration of sensitivity to the difficulties facing consumers. He also pointed to government’s decision to supply crude oil to local refineries as another measure that could help reduce the pressure on fuel prices.

However, he stressed the need for longer-term measures to reduce Ghana’s dependence on imported refined petroleum products and exposure to international market premiums.

He said strengthening local refining capacity and directing more of Ghana’s crude oil to domestic refineries could help contain fuel prices in the long term.

Credit:Citinews