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Business News of Tuesday, 21 June 2016

Source: Class FM

Fuel prices stable – Chamber of Petroleum

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The Chamber of Petroleum Consumers (COPC) has welcomed the stable prices of fuel in the country after the second pricing window in the second half of the month of June.

Executive Secretary of COPC, Mr Duncan Amoah said checks by the Chamber revealed that: “Most of the major Oil Marketing Companies (Omcs) have indeed kept faith with the Ghanaian consumer as was advocated earlier by the Chamber for this pricing window, by maintaining prices across the country contrary to earlier indications of some demanding around 2% adjustments”.

Mr Duncan pointed out that studies conducted at Goil, Shell, Total, Allied Oil, Frimps Oil, Puma, Ev Oil, SO energy, Engen, Star Oil and several other Omcs indicate that the prices have stayed at old levels with a few reducing the price of diesel by some 0.40% as of Monday, June 20.

He pointed out that the “world market indices continue to remain volatile at the moment, with a fairly stable performance by the cedi to the dollar”, as the country awaits the next pricing window set for July 1.

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