COPEC Slams “Woefully Inadequate” Fuel Price Cuts
June 4, 2025 | Accra
The Chamber of Petroleum Consumers (COPEC) has dismissed Ghana’s latest fuel price reductions as “woefully inadequate” despite declines at major pumps.
Executive Secretary Duncan Amoah told in an interview today:
*”While June’s price drop is welcome, it remains grossly insufficient. Bulk distributors sell petrol at GH₵8/litre and diesel at GH₵9. With taxes and margins, prices shouldn’t exceed GH₵11.70 – yet stations charge GH₵12+! This confirms systemic market failures.”*
Voice FM’s Pump Price Survey (June Pricing Window):
- GOIL: Petrol GH₵12.52 ↘️ (from GH₵13.27) | Diesel GH₵12.98 ↘️ (from GH₵13.87)
- Star Oil: Petrol GH₵11.77 | Diesel GH₵12.49
- Industry Average: Still 8-15% above COPEC’s GH₵11.70 benchmark
Key Findings from Our Analysis:
- Pricing Discrepancy: Retailers charging 30+ pesewas/litre above fair value
- Cedi Stability Not Fully Passed On: Despite forex gains, consumers see only 5-7% reduction vs. 15% potential
- Tax Burden: GH₵3.27/litre taxes remain unchanged
Market Outlook:
More stations expected to cut prices this week amid cedi gains and Voice FM’s findings exposing pricing