Chamber of Petroleum Consumers (COPEC) has predicted a slight decrease in fuel prices as the second pricing window for November begins on Saturday, November 16.

COPEC forecasts a 5.06% drop in the retail price of petrol, which is expected to fall from the current average price of GHȼ14.30 per litre to a range of GHȼ12.90 to GHȼ14.26 per litre.

Diesel prices are also anticipated to decrease by 3.88%, dropping from the current average of GHȼ15.16 per litre to a range of GHȼ13.85 to GHȼ15.31 per litre.

This forecast comes after several months of substantial increases in the prices of refined petroleum products.

For example, state-owned GOIL raised the price of diesel from GHȼ14.90 per litre in October’s second pricing window to GHȼ15.45 per litre in the first window of November.

COPEC's projection brings some relief to consumers who have been struggling with the rising fuel costs. The price adjustments are attributed to fluctuations in global oil prices and changes in exchange rates.