In Ghana, COPEC forecasts further fuel price increases
In Ghana, Duncan Amoah, executive director of the Chamber of Petroleum Consumers (COPEC), said that fuel prices will continue to rise due to global demand and other costs. According to him, the country has not yet overcome the current price pressure in the fuel market, despite measures introduced to mitigate the impact of higher diesel prices on consumers.
Diesel demand and costs
As reported by MyJoyOnline, Amoah appeared on JoyNews' The Pulse programme on Wednesday, September 16. He said the situation could worsen as demand for diesel fuel rises during the winter season. In his view, prices could remain high even if the current geopolitical tensions ease.
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The COPEC head noted that price increases will continue due to higher premiums and logistics costs, which, he said, remain significant.
Refining proposal
Amoah explained that recent price increases were influenced by geopolitical events, but seasonal demand, higher premiums and logistics costs could continue pushing them upward. He also called for more active development of local refining, believing that domestic oil refineries could reduce some of the additional costs associated with importing finished petroleum products at higher premiums.
