The Chamber of Petroleum Consumers-Ghana (COPEC) is predicting the price of petrol at fuel pumps may hit almost GH¢11 by close of the week.

However, prices for Diesel and Liquefied Petroleum Gas (LPG) are to reduce by 40 pesewas per litre and 17 pesewas per kilogram, respectively.

The National Petroleum Authority, as part of its price deregulation process, employs a two-week inventory window for the adjustment of prices of petroleum products every month.

Currently, the price of petrol at major fuel stations is a little shy of GH¢10 per litre, while other petroleum products like Diesel and LPG are selling for over GH¢10 per litre and kilogram respectively.

Speaking to Citi News, the Executive Director for COPEC, Duncan Amoah says consumers should brace themselves to pay more for petrol in the coming days if no intervention is made.

“Petrol will go up to almost GH¢11 for this window, while LPG will decline by as much as 17 pesewas or some 1.61 percent for the first window.”

He further recommended that the Tema Oil Refinery should be made operational to stabilise the current trend.

“Getting TOR to work will also forestall some of the challenges we anticipate in the days and months ahead. We impress on authorities to ensure institutions like BOST are not neglected.”