• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Energy

Ex-pump Prices: Petrol to rise to GHS 12.41; diesel to fall to GHS 11.40 – COPEC projects

2 years ago
in Energy, Features, highlights, Home, home-news, latest News, Maritime
1 min read
0 0
0
129
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Ex-pump Prices: Petrol to rise to GHS 12.41; diesel to fall to GHS 11.40 – COPEC projects

The Chamber of Petroleum Consumer (COPEC) has released its latest forecast on the retail prices of petrol, diesel, and LPG, and the findings indicate a potential increase in petrol prices and a decrease in diesel prices. The report suggests that the price of petrol at the retail pumps may rise by an average of 2.01% from the current mean value of ¢12.16 per liter to ¢12.41 per liter, effective from April 16th, 2023. This prediction is based on the increase in international benchmark pricing from $772.75 per metric tonne to $900.20 per metric tonne, indicating a significant rise of 16.49%.

On the other hand, the price of diesel is expected to decline by -5.58% from the current value of ¢12.71 per liter to between ¢11.40 and ¢12.60 per liter. The report cites the average rates of the Chamber of Bulk Oil Distributors, which range from about $1 to ¢12.50, as a contributing factor.

The international price of LPG has also undergone a slight increase from $530.10 per metric tonne to $535.45 per metric tonne, representing a 1.01% rise. However, due to a decline in the forex rate for the period, the projected retail price of LPG is expected to decrease by about -4.74% from the current industry retail average of 12.04 per kilogram to GHS11.47 per kilogram. As a result, LPG is expected to be sold between ¢10.90 per kilogram and ¢12.04 per kilogram.

COPEC has called on the government to consider easing taxes on LPG or implementing a subsidy program to promote and increase its usage. The report highlights that LPG consumption has generally dropped by 12% in 2022, and implementing these measures could help to save the environment.

The rationale behind these predictions is based on the demand and supply dynamics of the industry. According to COPEC, crude pricing has seen an increase from the previous mean price of $74.73 per barrel to $81.69 per barrel, representing a 9.31% rise. Additionally, the forex market has recorded a decline in depreciation from an earlier average of ¢12.5867 to ¢11.5450, indicating an 8.28% decrease per $1.

Overall, these predictions highlight the volatility and unpredictability of the petroleum industry, which is subject to a range of economic and geopolitical factors. Investors and stakeholders in the industry will need to remain vigilant and proactive in response to these developments, which may impact prices and profitability.

RelatedPosts

Top 10 African Countries With the Weakest Currencies in July 2025

U.S. Demands $15,000 Deposit for Visa Applicants From Zambia and Malawi

BoG Governor Urges Banks to Rethink Business Models as Interest Rates Decline

Tags: dieselEx-pump pricespetrolPetrol price to rise to GHS 12.41; diesel to fall to GHS 11.40 - COPEC projects
No Result
View All Result

Highlights

GSE-CI Climbs to 7,040.46 Points as Market Cap Rises by GHS294.3m Despite Trade Slowdown

EOCO Seizes Shatta Wale’s Lamborghini Linked to US Convicted Fraudster Nana Amuah

Former Black Stars Midfielder Agyemang Badu Calls for Increased Support for Women’s Football in Ghana

Black Stars Gear Up for Crucial World Cup Qualifiers Against Chad and Mali In September

CHAN 2024: Senegal Secure Narrow Win Over Nigeria, Congo Snatches Late Equalizer Against Sudan

Bright Simons Questions Policy Rationale Behind Communications Minister’s Demand for 30% DSTV Price Cut

Trending

Business

Top 10 African Countries With the Weakest Currencies in July 2025

August 6, 2025

Top 10 African Countries With the Weakest Currencies in July 2025 A weak currency can significantly deter...

U.S. Demands $15,000 Deposit for Visa Applicants From Zambia and Malawi

August 6, 2025
Governor of the Bank of Ghana (BoG), Dr Johnson Asiama,

BoG Governor Urges Banks to Rethink Business Models as Interest Rates Decline

August 6, 2025

GSE-CI Climbs to 7,040.46 Points as Market Cap Rises by GHS294.3m Despite Trade Slowdown

August 6, 2025

EOCO Seizes Shatta Wale’s Lamborghini Linked to US Convicted Fraudster Nana Amuah

August 6, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.