The Chamber of Petroleum Consumers (COPEC) is hinting at more increases in fuel prices across the country.
According to COPEC, in the next two weeks, depending on the world market price and performance of the cedi, prices at fuel pumps will go up.
Consumers are up in arms with the government over the 3.5 percent fuel price increases, crossing the dreaded 5 cedis price per litre.
Commercial drivers are contemplating increasing transport fares to be able to meet up to their sales and be able to buy spare parts.
Speaking on Adom FM’s morning show Dwaso Nsem Wednesday, Executive Secretary of COPEC, Duncan Amoah, said the incessant increases are not surprising.
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He noted that though there has been a marginal increase in the world market price, most of the major importers attribute the latest hikes to the bad performance of the local currency, the cedi.
The COPEC boss explained that the frequent price increases are known to result from two main factors – price movements on the international market and the performance of the Cedi hence, the current global and local dynamics give little or no hope that fuel consumers will be getting relief from fuel price increase in the future.
“It is our belief further, that the current price deregulation programme though has its positives will also need to be reviewed to arrest the current frequent price escalations,” he stated.
The only way out, Duncan Amoah said, is for a national dialogue with all stakeholders to find a lasting solution to the problem.