The Chamber of Petroleum Consumers (COPEC) has stated that by Monday, November 14, 2022, fuel prices would probably be slightly lower.
Duncan Amoah, the Executive Secretary of the Chamber, claims that measures are being taken to help subsidize the growing cost of petrol.
"We will be expecting diesel to drop from GH¢23 to somewhere around GH¢21.19, and the petrol will also drop from GH¢17.99 to somewhere GH¢17.10 or GH¢17.00.
"All things being equal, diesel could go down by GH¢2.00 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," he said on Joy Prime on Wednesday, November 9.
He clarified, however, that the recent increase in the cost of diesel, petrol, and kerosene is a result of the higher taxes on petroleum goods.
Mr. Amoah said that the National Petroleum Authority (NPA), the regulator, should not be held accountable for the price hike.
He attributed the country's poor economic management to the government.
He urges the government to limit the increase in fuel taxes since it might result in job losses in the industry.
While petrol is now costing approximately GH18, diesel is currently retailing for more than GH23.
In a similar incident, Mohammed Abdul-Kudus, the NPA's public relations officer, thinks taxes should not be to blame for the price increase, but rather the devaluation of the cedi.