Ghanaian drivers can expect a slight decrease in petrol prices in early February, while diesel costs are projected to remain unchanged.

This is according to the Chamber of Petroleum Consumers Ghana (COPEC).

The forecast is based on recent trends in international market prices.

Executive Secretary of COPEC, Duncan Amoah explained that while global diesel prices have risen, local inventory costs have fallen, preventing an increase at the pump.

“Prices are likely to remain stable for this window, although petrol has stayed stable, diesel has gone up quite significantly, about five per cent. Unfortunately, the local market, as I indicated, will not respond with the increase because the numbers I have picked from some of the BDCs indicate that they have gone down rather week on week.

“You are likely to see some nominal adjustment in the price of petrol, while diesel is likely to be maintained at current levels,” Amoah told Accra-based Citi News.

He cautioned, however, that the stable outlook remains fragile.

“If it happens, you potentially are looking at crude jumping over 80 to the 100th region in no time. The Venezuelan situation could have equally resulted in the spike, but then the global over-supply situation saw to it that it didn’t turn out bullish,” he added.