Costs of gasoline and diesel would decrease by 3.7% to 4.04% per litre, according to COPEC

Beginning on Thursday, March 1, 2023, the cost of gasoline and diesel is anticipated to decrease by 3.7% to 4.04% a litre.

The Chamber of Petroleum Consumers (COPEC) claims that despite a slight depreciation of the cedi relative to the dollar at that time, this is the result of a drop in product prices on the global market.

"These anticipated price drops for the second time in a row since the second pricing window of February 2023 do not have any relevance with the much-heralded Gold for Oil initiative as these movements are merely a derivative of market dynamics at play during the period," says the statement.

We are still waiting for the reductions that the two cargoes that were brought in this month will bring about in terms of easing the agony of the petroleum consumer, it says.