The Chamber of Petroleum Consumers (COPEC) is calling on the Ghanaian government to intervene urgently as fuel prices continue to climb, marking the third consecutive increase this year.

Consumers are feeling the impact, with petrol and diesel prices rising once again in February, following similar hikes in January. Shell has raised petrol prices from GH₵15.59 per litre to GH₵16.23, while diesel has increased from GH₵15.79 to GH₵16.20. Meanwhile, Star Oil has maintained petrol at GH₵14.99, but increased diesel prices from GH₵14.99 to GH₵15.37.

These price surges are driven by global crude oil market fluctuations and the depreciation of the local currency, making fuel importation more expensive.

COPEC’s Executive Secretary, Duncan Amoah, has cautioned that if this trend continues, businesses and consumers will face prolonged economic hardship.

Speaking with Citi Business News, Amoah emphasized the need for a well-planned approach to stabilizing fuel prices.“Clearly, we are not out of the woods and something has to give. A plan or a strategy needs to be in place to cushion all of us. You can’t continue to have your refinery down. You can’t continue to import everything.

“You can’t continue not to have a strategic reserve at this point. You can’t continue to be a price taker and expect that your people will get fuel at the price you want it. Something needs to be done,”** he stated.

COPEC’s strong call for action highlights growing concerns about the impact of rising fuel prices on the cost of living and economic stability. The group is urging the government to take immediate steps to address the situation and ease the financial burden on Ghanaians.Source:Dailymailgh.com