For the month of October, petroleum product prices are probably not going to alter.
The Chamber of Petroleum Consumers (COPEC) predicts that gas prices may rise by 1%, but oil marketing corporations won’t pass the cost on to customers because of competition.
Duncan Amoah, the COPEC Executive Secretary, ascribed the price stability to the stability of the cedi and the stability of the price of oil on the world market.
“There have been some price variations as far as the international market pricing is concerned and again, there has been some relative stability with the local currency over the last two weeks period.”
“The pump price could have reflected some 1% upward adjustment but having spoken to a good number of oil marketing companies, we are confident that prices will remain at the current level so it is not likely you will get an increase, it is unlikely there will be a reduction, the OMCs are likely to maintain pump prices at the level that they currently sell for the first pricing window in the month of October.”
