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The Chamber of Petroleum Consumers (COPEC) has announced that starting from tomorrow, August 1, 2023, fuel prices are expected to rise.
The average increase in petrol and diesel prices is projected to be around 9.0% above the current mean price of ¢11.90 per liter.
Additionally, the price of Liquefied Petroleum Gas (LPG) is anticipated to increase by approximately 20.0%.
As a result of these adjustments, the new selling price for petrol will be ¢13.27 per liter, while diesel will be sold at ¢13.93 per liter.
These price hikes are attributed to the upward movement of international market prices for petroleum products. Specifically, crude oil has experienced a 10.53 percent increase, rising from the mean price of $75.85 per barrel to $83.84 per barrel.
