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From July 16, 2022, the Chamber of Petroleum Consumers anticipates lower costs for gasoline, diesel, and LPG.
While diesel is predicted to decrease by more than 11% and LPG by over 10% per kilogram, petrol is predicted to decrease by only about 4%.
This implies that, in nominal terms, there will be a 50–70 pesewas per liter decrease of gasoline and diesel at the pump.
This is based on information provided by certain distributors of bulk oil regarding the cost of goods for the upcoming two weeks.
There is an indicator, according to Duncan Amoah, chief executive of the Chamber of Petroleum Consumers, that the cost of gasoline and diesel will decrease by about 5%.
According to him, this decrease will be a huge comfort for customers after the recent, steady increase.
“We pick every indication that pump prices will decline or go down by some 5% between the two products – petrol and diesel.”
“Diesel has gone down steeply, petrol has done about 3.8% reduction. Diesel has done almost 11% reduction,” he added.
He added “the reintroduction of the rebate that government through the Finance Ministry did (15 pesewas and so plus or minus), you are looking at doing about 5.3% cut, effective second window July 2022”
Therefore, Mr. Amoah is asking with the transportation unions to hold off on raising fuel prices while they observe trends.
“We will make attempt to talk to them to hold on a bit to see what the pumps throw at us. I’m sure their frustrations is also stemming from increases over the past few weeks.”
“We will personally make efforts to at least get to them to say how they could hold on to observe few days what pump prices become,” he concluded.
Source:NKONKONSA.com
