Petrol prices are expected to fall by up to 2.9% from August 17, while diesel prices could increase by 1.39%, according to data from the Chamber of Oil Marketing Companies (COMAC).
COMAC projects petrol to sell at about GH¢15.82 per litre, while diesel could rise to GH¢17.73 per litre. LPG prices are also expected to decline marginally to about GH¢16.21 per kilogramme.
However, the Chief Executive of the Chamber of Petroleum Consumers (COPEC) has told JOYBUSINESS that most Oil Marketing Companies may keep their current pump prices unchanged.
The mixed outlook is largely driven by developments on the international oil market. Average crude oil prices rose by 2.02% to US$90.41 per barrel, amid geopolitical tensions and concerns over possible supply disruptions around the Strait of Hormuz.
Meanwhile, the National Petroleum Authority has reduced its price floors for the second pricing window of August. The petrol floor is now GH¢13.92 per litre, while diesel stands at GH¢15.19 and LPG at GH¢10.98 per kilogramme.
COMAC says continued appreciation of the cedi could support further reductions in petroleum prices in subsequent pricing windows.