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Godblessed Blog of Monday, 23 June 2025
Source: Vincent Ofori
COPEC Warns Fuel Prices May Rise in July Due to Middle East Tensions
The Chamber of Petroleum Consumers (COPEC) has warned that Ghanaians could experience higher fuel prices in the first pricing window of July due to rising tensions in the Middle East.
According to COPEC, the ongoing conflict involving Israel and Iran is affecting global oil supply and pushing up international crude oil prices. This could result in increased pump prices locally, as Ghana relies on global benchmarks to determine fuel costs.
“Fuel prices are likely to go up in the next pricing window if the tensions continue,” COPEC said in a statement.
Currently, Brent crude oil prices have climbed closer to $78 per barrel, compared to lower prices earlier in the year.
COPEC is calling on the government to monitor the situation closely and consider measures to cushion consumers if necessary.
