By Emmanuel Bamfo 
Drivers and transport operators in Ghana must prepare their pockets for another hit at the pumps starting Tuesday, September 1. The Chamber of Petroleum Consumers (COPEC) projects that fuel prices will jump across petrol, diesel, and Liquefied Petroleum Gas (LPG).
Petrol prices will take the biggest hit during this first pricing window of the month. According to COPEC, petrol could rise by 5 percent to reach an average of GH¢16.21 per litre from the previous mean of GH¢15.43. Diesel is projected to climb to GH¢17.61 per litre, while LPG will sell around GH¢14.19 per kilogramme.
This price increase comes as a surprise because the local currency actually strengthened recently. The Ghana cedi appreciated by 2.39 percent against the US dollar, while global crude oil dropped slightly to $89.30 per barrel. However, a steep 10 percent hike in international Free-On-Board (FOB) prices for refined petrol completely wiped out those local currency gains.
To soften the pressure on Ghanaian consumers, COPEC has urged the government to extend its fuel subsidy program. The consumer watchdog is also appealing directly to individual Oil Marketing Companies (OMCs) to hold their current diesel rates steady so commuters get some relief.
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