The Chamber of Petroleum Consumers (COPEC) has foreseen a slight upswing in petroleum prices during the first pricing window of August 2023.

It is anticipated that both petrol and diesel pump prices may increase by approximately 9 percent from the current nationwide average price of GHS 11.90 per litre.

Furthermore, the price of liquefied petroleum gas (LPG) is expected to undergo a significant increase of 20 percent.

These projected price hikes by COPEC are attributed to the rise in international market prices for petroleum products, with crude oil registering a 10.53 percent increase, moving from the mean price of $75.85 per barrel to $83.84 per barrel.

Based on these factors, COPEC has provided the following estimated retail figures for petroleum products in the upcoming pricing window:

Petrol: GH¢13.27 per litreDiesel: GH¢13.93 per litreMean price for Petrol and Diesel: GH¢13.33 per litreLPG: GH¢11.79 per kilogram