Fuel prices to remain stable - COPECGH

The Chamber of Petroleum Consumers Ghana (COPECGH) has noted that prices of petroleum products in the country will remain fairly stable.

A statement signed by Duncan Amoah, Executive Secretary, COPECGH said: “The start of the second pricing window for the month of February, which begun on the 16th of February has been met with mixed reaction.”

“The news of fuel price increases seem to have taken a centre stage though our checks and figures at the pumps point to rather stable prices across most pumps. TOTAL Ghana Ltd seems [to be] the only oil marketing company (OMC) that has adjusted pump prices while the overwhelming majority of the over 87 OMCS have maintained prices at old levels of the second January pricing window.”

Indications are strong that the country's biggest oil marketing company, Goil, is likely to keep pump prices at old levels, a move likely to keep the majority of others at old pump prices until the end of the February window.”

The statement added: “Fuel prices cannot be said to have increased by 4% when over 98% of the various pumps have remained very stable and are expected to be so until the end of the February window. We further reiterate our earlier position also that there is no fuel shortage at the moment, neither will there be one in the foreseeable future as the country's fuel stock has seen significant increases at the various depots.”