Fuel price increment due to increase in world market price – COPEC

The Executive Secretary of the Chamber of Petroleum Consumers (COPEC), Duncan Amoah, has confirmed the increase in the price of petroleum products on the market.

Reports from the various fuel stations suggest that there has been an increase in the price of petroleum products on the market.

Speaking to Ekourba Gyasi on Atinka AM Drive, Duncan Amoah explained that some fuel stations started changing their prices as early as last week Thursday.

According to him, the increment in fuel prices is as a result of the increase in the price of petroleum products on the world market as well as the strength of the cedi against other currencies.

He added that taxes placed on petroleum products have also contributed to the increase in the petroleum prices.

He, however, hinted that some stations have reduced their margins in other to stay competitive.

He urged motorists, vehicle owners, and consumers of petroleum products to be cooperative and not accuse fuel attendants of cheating them.