adverts
The Chamber of Oil Marketing Companies (COMAC) has projected an upward adjustment in fuel prices at retail stations beginning the first pricing window of July 1, 2025 — marking the first increase at the pumps since February this year.
According to the chamber, petrol prices are expected to rise by 2 per cent, diesel by 5 per cent, and Liquefied Petroleum Gas (LPG) by just over 1 per cent.
Speaking at a news conference in Accra, COMAC Chief Executive Dr Riverson Oppong said the projected increases are based on a combination of global and domestic pricing variables, including the National Petroleum Authority’s (NPA) pricing structure.
adverts
“Even before the implementation of the amended Energy Sector Levy — which has since been suspended — our projections indicate that pump prices may be going up,” Dr Oppong stated.
He attributed the expected hikes to recent movements in international crude oil prices, freight costs, and exchange rate pressures.
“I can say petrol is likely to go up by 2 per cent, LPG may witness a little above 1 per cent, and diesel will likely increase by 5 per cent. This is after taking all factors into consideration, including NPA price build-ups,” he added.
In response to the anticipated increase, COMAC is urging a regulatory overhaul of the petroleum downstream sector to promote cost-efficiency and sustainability.
“We need a serious review of the regulatory environment to allow for more cost-effective operations, especially in light of the pressures facing the industry,” Dr Oppong emphasised.
The news comes at a time when consumers are already grappling with the rising cost of living, and stakeholders warn that further increases in fuel prices could have a ripple effect across transport, agriculture, and commodity markets.
Click the link Puretvonline.com | WhatsApp Channel to join the WhatsApp channel
GOT A STORY?
Contact/WhatsApp: +233243201960 or Email: manuelnkansah33@gmail.com
