COPEC Confirms Sharp Reduction in Diesel, Petrol, and LPG Prices Starting Today.

Diesel, Petrol, LPG Prices Drop Sharply from Today – COPEC Confirms.

Fuel prices in the country are set to fall significantly beginning today, Friday, May 16, 2025, according to the Chamber of Petroleum Consumers (COPEC). The reduction, which affects diesel, petrol, and LPG, is expected to ease the burden on consumers who have been grappling with high pump prices in recent months.

According to Paul Eric Ofori, Head of Research at COPEC, diesel prices will decline by between 8.3% and 8.5%. Speaking during an interview on Channel One TV, he stated that this is one of the most significant single-period reductions recorded in recent months. He also highlighted that fuel prices have dropped by about 25% to 26% since the second pricing window in February.

The price cuts are not limited to diesel alone. Petrol is expected to decrease by approximately 4%, while Liquefied Petroleum Gas (LPG) will drop by around 10%. Ofori noted that diesel could fall by at least 1 Ghana cedi per litre, which will bring much-needed relief to drivers and households who have faced persistent fuel price hikes.

Despite the positive news, Ofori raised concerns about the slow pace at which some fuel stations adjust their prices downward. He criticized Oil Marketing Companies (OMCs) for being quick to increase prices when global rates go up, but slow to pass on reductions to consumers.

He urged the Association of Oil Marketing Companies to ensure that their members swiftly reflect the new prices at the pumps. “We are calling on the association to act and make sure all companies comply with the new pricing immediately,” he emphasized.



Comments

Post a Comment

Popular posts from this blog

BECE Timetable Adjusted Following Eid-ul-Adha Holiday on June 9

Image
New BECE 2025 Schedule Released as Monday, June 9 Declared Public Holiday. Due to the celebration of Eid-ul-Adha, Monday, 9th June 2025 has been declared a public holiday. As a result, the Basic Education Certificate Examination (BECE) will now commence on Tuesday, 10th June 2025 instead of the original start date. The West African Examinations Council (WAEC) has officially released the final timetable for the 2025 BECE. This year’s exam, which will be conducted under the newly introduced curriculum, is scheduled to run from Tuesday, 10th June to Tuesday, 17th June 2025 for both school and private candidates. The timetable outlines subject-by-subject schedules over the six-day period. Each day features a blend of essay and objective papers, with some days requiring candidates to write two core subjects. Overview of the Timetable Tuesday, 10th June 2025 •Social Studies 2 (Essay): 9:00 a.m. – 10:00 a.m. •Social Studies 1 (Objective): 10:00 a.m. – 10:45 a.m. •Computing 2 (Essay): 1:00 p.m...
Read more

CAGD Salary Payment Schedule for the Months of 2025

Image
CAGD Announces Official Salary Payment Date for March 2025. The Controller and Accountant-General’s Department (CAGD) has officially confirmed the salary payment date for March 2025 for all government employees in Ghana. This announcement, signed by Kwasi Agyei, the Controller and Accountant-General, applies to civil servants, employees of the Ghana Education Service (GES), and other public sector workers who receive their salaries through the Government of Ghana’s payroll system. Assurance from CAGD The CAGD has assured all public sector workers that any changes to the scheduled payment dates will be promptly communicated to the relevant Ministries, Departments, Agencies, Assemblies, and respective banks. The department remains committed to delivering efficient Public Financial Management Services by leveraging skilled personnel and advanced technology to ensure a smooth and transparent payment process. March 2025 Salary Payment Date According to the memo issued by the CAGD, salaries ...
Read more

Government Approves 2025 Salary Increase for Public Sector Workers on the Single Spine Salary Structure

Image
2025 Salary Adjustment Announced for Public Service Institutions on the Single Spine Structure The Government of Ghana has approved a 10% across-the-board salary increase for all public sector institutions under the Single Spine Salary Structure (SSSS).  This follows the successful conclusion of negotiations on the 2025 base pay, as confirmed in a recent communication from the Fair Wages and Salaries Commission. According to an official directive issued by the Controller and Accountant-General’s Department, the new salary structure, captured in Appendix A of the circular, takes effect from January 1, 2025.  The adjustment aligns with the government's commitment to ensuring fair and sustainable remuneration for public service workers. It’s important to note that despite the upward adjustment in base pay, the interim market premium for eligible personnel remains unchanged.  In accordance with the Government’s White Paper on the implementation of the market premium, this ben...
Read more