The announcement made it clear that there will be no modifications to the timetable for any of the other scheduled events and programs for the semester.
There has been an increase in the price of petroleum products at the pumps by certain Oil Marketing Companies (OMCs).
Shell is leading the way, charging ₵15.10 for a litre of fuel and ₵15.25 for diesel.
According to several of the OMCs who spoke with JoyBusiness, the devaluing cedi and growing crude oil prices on the global market are to blame for the price increases.
Petroleum product prices do not appear to be in good shape because the cedi has not yet shown any indications of leveling out in relation to the US dollar in the upcoming weeks.
COPEC analysis
Earlier, the Chamber of Petroleum Consumers (COPEC) forecasted a 4.0 percentage points hike in prices of petroleum products, effective Tuesday, July 16, 2024.
COPEC reported that the retail prices for petrol, diesel, and LPG are set to rise due to the cedi’s depreciation against the dollar, shifting from $1:GHS15.2779 to $1:GHS15.462 (-1.205%).
Duncan Amoah, COPEC’s Executive Secretary, outlined expected price changes: Petrol to GHS14.795/L, Diesel to GHS15.332/L, and LPG to GHS16.205/kg, with a 14.5 kg cylinder reaching GHS234.97.
COPEC urged the government to cut taxes or subsidise LPG to boost accessibility and protect the environment.
