The Chamber of Petroleum Consumers Ghana, (COPEC), has predicted fuel will hit GH¢9.00 per litre by the close of March this year.
The hike, it said, is due to the depreciation of the cedi and Russia’s invasion of Ukraine.
Executive Secretary of COPEC, Duncan Amoah, made the prediction in an interview on Asempa FM’s Ekosii Sen programme Thursday.
“We would hit nine before March comes to an end. It is the easiest calculation anybody could do. Ukraine and Russia don’t seem to be ending any moment soon,” he noted.
In less than two weeks, the prices of diesel and petrol have increased by over 30 percent and are selling at ¢8.29 at the pumps.
Public transport operators also effected a 15 percent increment in transport fares in response to the changes in fuel prices.
Already, people are blaming the government for not doing enough to cushion Ghanaians against the hardship caused by the rise in fuel prices.
But, Duncan Amoah said the current situation is beyond the government’s control.
He noted that the Russia-Ukraine conflict has affected international market price – a situation he said will be dire for Ghana.
“Times are hard and it doesn’t look like the fuel prices will be coming down soon. We are not in normal times,” the COPEC boss said.
Duncan Amoah appealed to the government to subsidize the product to bring relief to Ghanaians.
