CPCG Hints at Fuel Prices Increases Again

Prices of petroleum products are likely to go up by three per cent at the pump from today June 1, the Chamber of Petroleum Consumers Ghana (CPCG) has projected.
Executive Secretary of the Chamber of Petroleum Consumers Ghana, Duncan Amoah, noted that the marginal increment followed the rise in the price of crude oil on the international market, which has been influenced by the rising demand for crude from mostly developing countries.
“There will be between two to three per cent increase in prices of petrol and diesel at the pump tomorrow [Wednesday],” he told Accra-based Onua FM.
He added: “It is not expected that transport fares will go up. Though there is an upcoming window for review of transport fares, the increase in prices of petroleum products are not that significant to automatically result in an increase in transport fares,”
He said the Organization of Petroleum Exporting Countries (OPEC) was meeting this week to reach a decision on a possible cut-down on the volume of oil sold on the market, noting “the index are prompting another rise in international price for crude oil if OPEC endorses this decision”.