In the current pricing window, the Chamber of Petroleum Consumers (COPEC) has made a projection indicating a minimal but noticeable rise in fuel prices.

According to the Executive Secretary of COPEC, Duncan Amoah, petrol and diesel prices are expected to see an increment between 2% and 5% compared to the current prices at the pump.

He stated that the increase in petroleum products is due to the depreciation of the local currency - Cedi against the major trading currency - dollar.

He however noted that Liquefied Petroleum Gas (LPG) prices remain unchanged.

In an interview with Citi News, Duncan Amoah said, “Fuel products across the country, except for liquefied petroleum gas (LPG), are likely to rise, albeit marginal. LPG is likely to have prices sustained or remained at the current level. For petrol and diesel, we are likely to pay 2% – 5% more on current pump prices and a depreciation of the cedi largely accounts for this.

“International benchmarks have remained relatively stable and even declined, unfortunately, you can’t say the same for the local currency and so give or take what most oil marketing companies are likely to give all of us is some marginal increase in the next pricing window of June,” he stated.