COPEC blames fuel price increases on adjustment in UPPF margin

The Chamber of Petroleum Consumers Ghana (COPEC) has criticised the National Petroleum Authority (NPA) for increasing the Unified Petroleum Price Fund (UPPF) margin, which has led to higher fuel prices.

The NPA directed a GH₵0.05 increase per litre from June 1, 2024, resulting in petrol and diesel prices reaching GH₵14.84 per litre at some stations.

COPEC's Executive Secretary, Duncan Amoah, argued that this increase further burdens consumers already struggling with high fuel prices due to cedi depreciation.

He pointed out that declining crude oil prices should have led to reduced fuel costs, criticising the decision as detrimental to consumers.

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