Fuel Prices To Go Down Effective January 17, COPEC Sites International Market Trends

Fuel Prices To Go Down Effective January 17, COPEC Sites International Market Trends

  • Prices of diesel and Liquefied Petroleum Gas (LPG) are expected to drop for the second time in January
  • The Chamber of Petroleum Consumers is expecting the prices to drop from January 17, 2024
  • The chamber noted that the prices of petrol will remain stable after a slight increase of 3.6%

Some fuel prices are expected to drop for the second time in January, according to the Chamber of Petroleum Consumers.

The chamber expects the prices to drop from January 17, 2024, though the exact prices are unknown.

Fuel prices to drop
Ghanaians have been told to expect stable fuel prices in 2024. Source: Getty Images.
Source: Getty Images

Petrol will remain stable, while diesel and Liquefied Petroleum Gas (LPG) will see drops.

“Diesel prices dipped by roughly 2.8% per metric ton on the global market, while petrol experienced a slight increase of 3.6%,” the Chamber of Petroleum Consumers Executive Secretary Duncan Amoah said.

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He added, “Overall, what our expectation is that prices of petrol are likely to remain stable with a 1 percent upward adjustment."

This prediction aligns with comments to YEN.com.gh from an analyst at the Centre for Environmental Management and Sustainable Energy, which is expecting stable fuel prices throughout 2024.

Renewed dumsor concerns

In a separate story, YEN.com.gh reported that Deputy Minority MP Emmanuel Armah-Kofi Buah is demanding a load-shedding timetable.

#DumsorIsBack has been trending online after several Ghanaians experienced power cuts in the last few days.

Buah said the government does not have enough gas to fuel thermal plants because of cash flow issues.

Fears about the return of Dumsor started in May 2022

Meanwhile, YEN.com.gh reported that last year, the rampant unannounced power cuts in large areas of the country prompted concerns about the return of dumsor or intermittent power cuts.

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Mahama slams Akufo-Addo government over return of dumsor: “We resolved it before they came into office”

Experts were worried about the country's inability to meet the growing demand for electricity consumption.

But answers from the Energy Ministry and available data dispelled fears that dumsor was back.

At the time, the Chamber of Independent Power Producers and Bulk Consumers (CIPDiB) called for the inclusion of a $1.4 billion debt owed to them by the government in the mid-year budget review.

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Source: YEN.com.gh

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