Fuel consumers can anticipate relief at the pumps with a decrease in diesel and Liquefied Petroleum Gas (LPG) prices, marking the second consecutive drop in January.

The decline expected to take effect on Wednesday, January 17, has been projected by the Chamber of Petroleum Consumers (COPEC).

While the exact adjustments are pending, COPEC anticipates a reduction in diesel and LPG prices due to a global decline in finished product prices, despite a slight depreciation of the Ghanaian cedi.

Petrol prices are expected to remain relatively stable, with a possible minor upward adjustment of around 1%, reflecting current international market trends.

COPEC Executive Secretary Duncan Amoah pointed to current international market trends as reason for the decline.

“Diesel prices dipped by roughly 2.8% per metric ton on the global market, while petrol experienced a slight increase of 3.6%. The cedi has remained relatively stable overall, although we’ve seen a 0.47-point dip in exchange rates,” Amoah said.

He added, “Overall, what our expectation is that prices of petrol are likely to remain stable with a 1 percent upward adjustment.

“Diesel is likely to see some reduction while LGP is also likely to see some reduction effective Wednesday which is the second window for January.”