Fuel prices at the pumps are expected to rise marginally from today, December 1, according to the latest pricing outlook from the Chamber of Oil Marketing Companies (COMAC).
The projection, captured in COMAC’s December review and sighted by JoyBusiness, shows upward adjustments across petrol, diesel, and LPG.
Expected Adjustments
Drivers of the Increase
COMAC attributes the expected hikes to:
Higher international market prices for finished petroleum products in recent weeks.
Pressure on the Ghana cedi, which depreciated from GH¢10.94 to GH¢11.14 within two weeks—representing a 1.76% decline.
The chamber noted that diesel prices could rise further in the coming days due to uncertainty over product availability globally.
Market analysts say the cedi’s recent weakness is being driven by increased corporate forex demand and typical end-of-year pressures.
Industry Perspective
Duncan Amoah, Executive Secretary of the Chamber of Petroleum Consumers (COPEC), has warned that the outlook for fuel prices in the coming weeks will heavily depend on how well the cedi performs.
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