The Chamber of Petroleum Consumers (COPEC) is urging the government to take immediate action as fuel prices continue to climb, marking a third consecutive increase this year.
Consumers are facing significant hikes, with the first pricing window of February following January’s trend.
Shell has raised petrol prices from GH₵15.59 per litre to GH₵16.23, while diesel has increased from GH₵15.79 to GH₵16.20.
Star Oil, on the other hand, kept petrol prices steady at GH₵14.99 but increased diesel prices from GH₵14.99 to GH₵15.37.
These increases are driven by the volatile global crude oil market and the depreciation of the local currency, which has pushed up fuel importation costs.
COPEC’s Executive Secretary, Duncan Amoah, warned that if this upward trend continues, businesses and consumers will face extended economic hardship.
Speaking in an interview, he stressed the urgency of a comprehensive strategy to stabilise fuel prices, saying, “We need a plan in place to cushion us. You can’t keep importing everything, you can’t keep relying on a refinery that’s down, and you can’t keep being a price taker expecting affordable fuel. Action is needed.”
COPEC’s call for swift government intervention reflects growing concerns about the rising cost of living and its impact on economic stability.
