Fuel Prices to Increase – COPEC

Prices of goods and services and Transportation fare are expected to go up as Chamber of Petroleum Consumers (COPEC), predicts an increase in petroleum products today, Wednesday, 15th January or 16th January 2020.

Fuel prices went up by 27% in January 2016 while Prices of some petroleum products gone up by 11 percent for the first pricing window in January 2017.

In the global markets, a barrel of oil costs US70 dollars.

Executive Secretary of Chamber of Petroleum Consumers (COPEC), Duncan Amoah, has said fuel prices may go up in a few days if the government does not devise strategic ways to face the crisis.

According to him, oil firms have added about 6 or 7 pesewas to the normal price due to the upsurge of the product on the international market.

In an interview with, Mr. Amoah said “I’m quite certain that by the 15, 16th of this month, fuel prices may have to go up again cos as we speak, oil companies have already taken the shield of some 6, 7 pesewas every liter they are selling. They are making losses to that amount and then the international market prices are also pushing upwards”.

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