The Chamber of Petroleum Consumers Ghana (COPEC) is predicting a marginal increase in fuel prices ahead of the yuletide.
According to the Chamber, the prices could hit GH¢18 by the end of the year if nothing is done to curb the situation.
Executive Secretary of COPEC, Duncan Amoah, disclosed this in an interview on Adom FM’s morning show Dwaso Nsem Monday.
Oil Marketing Companies (OMCs) have begun increasing the prices of petroleum products at the pumps.
Checks by Joy Business indicate that some OMCs are selling a price of petrol per liter for ¢13.10, from the previous price of ¢11.10, about 16% increase.
On the other hand, the price of diesel per liter has shot up to about ¢15.99, from the previous price of ¢13.90. This is about a 12% surge.
But Mr Amoah said the Oil Marketing Companies cannot be blamed for the increase.
The major contributory factor, he stated is the depreciation of the cedi against the dollar.
“I do not want us to get there and I think that authorities and those within the policy space will need to wake up from their sleep,” the COPEC boss added.
He urged government to put in place measures to cushion consumers in the wake of incessant increment.