As the second pricing window of August arrives, some oil marketing companies are raising petroleum prices, just as the Chamber of Petroleum Consumers predicted.

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Total Energies has upped the price of petrol from ¢12.95 to ¢13.50 per litre. Diesel has also risen to ¢13.90 per litre from the previous ¢12.95.

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Goil has similarly increased the prices of petrol and diesel to ¢13.50 and ¢13.90 per litre respectively.

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Other oil marketing companies are expected to follow suit and adjust their prices.

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Earlier, the Chamber of Petroleum Consumers (COPEC) had foreseen an increase in petroleum product prices.

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COPEC's Executive Secretary, Duncan Amoah, stated that petrol and diesel might go up by 5.7%.

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Currently, petrol and diesel are being sold at GH¢12.95. COPEC further mentioned that the price of LPG will likely increase by about 11.9% during the same period.

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He said: “Indications are that Petrol and Diesel pump prices are likely to increase averagely by about 5.7% over the current mean price of GHS12.45/L across the country whilst LPG prices increase by about 11.9%.

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“The following basic information forms the basis of projections for the coming window, that; prices of finished products on the international market have shot up by an average of around 11% for both petrol and diesel.”

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He added that "Crude price has been increased by 6.79% from the mean price of $80.67/barrel to $86.15/barrel, even though the forex or Dollar exchange rate has relatively decreased from a previous average of GHS11.7185 to GHS11.4538 (-2.26%) per $1.”

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According to Duncan Amoah, gasoline would cost GH12.97 per liter, while diesel is anticipated to cost GH13.43 per liter.

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While the 14.5 kg LPG cylinder is anticipated to be sold at GH 178.36 inside the window, LPG is anticipated to be sold at GH 12.30 per kg.

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