Tag: COPEC
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Fuel prices likely to drop in March – COPEC
The Chamber of Petroleum Consumers (COPEC) has predicted that fuel prices are likely to see a decline in the first pricing window of March 2023. According to COPEC, prices of both petrol and diesel have all declined marginally within the period while crude price has also minimally dropped from $82.99/barrel to $82.48/barrel (-0.61%). With the…
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G4O policy: Continuous and repetitive purchase of gold not sustainable – COPEC
The Chamber of Petroleum Consumers does not think government’s gold-for-oil policy is sustainable. COPEC in a statement said the policy has mandated the Precious Mineral Marketing Company (PMMC) to buy all gold from small-scale miners, community miners and a percentage from large-scale miners. It further explained that although small-scale miners contribute about 34% of all…
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COPEC raises concerns over ‘high rates’ charged by major OMCS
The Chamber of Petroleum Consumers Ghana (COPEC) has expressed concern over what it describes as overcharging by the three major Oil Marketing Companies in the country. According to COPEC per data available to it for the first pricing window of the month, Petrol should retail at GHS 10.59 per litre and Diesel at GHS12.84 a…
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Fuel prices to go up by over GH¢1 per litre soon – COPEC
It appears the woes of fuel consumers are not yet over, as the price of the commodity is tipped to increase by about 12 percent in the next pricing window of June 2022. This would mean that the average price of fuel is likely to increase by about GH¢1.33 per litre. While petrol prices are…
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COPEC demands timelines from gov’t on when TOR’s rehabilitation will be completed
The Chamber of Petroleum Consumers Ghana (COPEC) is demanding for accurate timelines as to when the rehabilitation of the Tema Oil Refinery will be completed as promised by government. President Akufo-Addo, in his May Day address on Sunday, disclosed that his government has begun the rebuilding of the state-owned refinery which has not been fully…
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COPEC insists gov’t must scrap taxes on petroleum products
The Chamber of Petroleum Consumers (COPEC) insists the government must consider a policy to scrap some taxes off petroleum products, despite the President’s decision not to. President Akufo-Addo speaking during this year’s May Day parade on Sunday dismissed calls on the government to reduce taxes on petroleum products, describing it as an unsustainable move to…
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COPEC charges AOMCs to provide list of members dealing in adulterated fuel
The Chamber of Petroleum Consumers Ghana is urging the Association of Oil Marketing Companies (AOMCs) to work to improve the perception that some of its members retail adulterated fuel at the pumps. There is a general notion amongst Ghanaians that some oil marketing companies engage in such acts that can be damaging to vehicles. Validating…
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Fuel prices cross GH¢7 mark; represents about 40% increase in 12 months
The price of a litre of fuel has crossed the GH¢ 7 mark for the first time at some pumps across the country. Fuel prices per litre stayed at around Gh¢6.50 on average for a few weeks, and then rose to reach an average of Gh¢6.70 at most pumps in the past week alone, according…
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BOST and TOR must shield Ghanaians from impact of fuel price increase – COPEC
As global Oil prices are tipped to hit record levels this year, the Chamber of Petroleum Consumers Ghana (COPEC) says the Tema Oil Refinery and the Bulk Oil Storage and Transportation Company Limited must absolve the public from its associated shocks. Speaking to Citi Business News, Executive Secretary of COPEC, Duncan Amoah stated that these…
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Fuel price hike: COPEC reiterates calls for review of tax build-up
Following an earlier projection by the Chamber of Petroleum Consumers Ghana (COPEC) that prices at the pump may go up by at least 20 pesewas, various Oil Marketing Companies (OMCs) have begun increasing their prices marginally. Some of the OMCs, however, increased the price of the fuel by just 5 pesewas, despite the price hike…