This announcement comes from the Chamber of Petroleum Consumers (COPEC) and takes effect on Wednesday, January 17, 2024.

While the exact price adjustments are yet to be finalized, COPEC anticipates a decline for both diesel and LPG due to a global drop in finished product prices. This positive trend comes despite a slight depreciation of the Ghanaian cedi in recent weeks.

Interestingly, petrol prices are expected to remain relatively stable, possibly with a minor upward adjustment of around 1%.

COPEC Executive Secretary Duncan Amoah explains this dynamic by highlighting current international market trends.

“Diesel prices dipped by roughly 2.8% per metric ton on the global market, while petrol experienced a slight increase of 3.6%. The cedi has remained relatively stable overall, although we’ve seen a 0.47-point dip in exchange rates,” Amoah said.

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

“Diesel is likely to see some reduction while LGP is also likely to see some reduction effective Wednesday which is the second window for January.”