The Chamber of Petroleum Consumers Ghana(COPEC-GH) wants a reduction in fuel prices by between 1- 4% for February to ease the current pressures on the pockets of Ghanaian petroleum consumers.
The Chamber said prices of fuel products within the country have seen some cumulative 14 – 17% increases over the past three pricing windows.
Against the backdrop of some appreciable gains of the cedi to stabilise over the past two weeks, COPEC-GH said it expects fairness in the current price deregulation regime which dictates that prices should reflect current trends.
The cedi made some gains to stabilise over the past two weeks to currently close trading at an exchange of 4.2798: $1, official reports say.
In a statement, the Chamber said: “We encourage officials at the Bank of Ghana to continue working hard to stabilise and possibly strengthen the currency to forestall any further fuel price increases while reminding government of the need to also urgently review the high taxes and levies on fuel products across the country.”
