The Chamber of Petroleum Consumers, Ghana (COPEC), has urged the government to create a Special Petroleum Fund aimed at stabilising fuel prices and providing relief to consumers during adverse global market conditions.
COPEC asserts that this proposed fund would enable the government to import and store fuel when international prices are low, subsequently releasing it into the market when prices escalate—thereby alleviating the financial strain on motorists and businesses.
This appeal comes in light of COPEC’s recent forecasts, which indicate that petrol prices are anticipated to increase by approximately 3.38%, rising from an average of GHS 12.18 per litre to GHS 12.59 per litre. Diesel prices are expected to experience an even more significant increase of 9.81%, from GHS 12.49 per litre to GHS 13.71 per litre.
In an interview with Citi News on Sunday, November 16, 2025, Paul Ofori, the Head of Research and Training at COPEC, emphasised the necessity for a long-term strategy to protect consumers from fluctuations in global prices.
“We have recommended that the government investigate measures that could offer a degree of security and help control pump prices. Regrettably, those suggestions have not been acted upon.
“We were optimistic that the government would contemplate the establishment of a special petroleum fund, allowing for the importation and storage of certain products when international prices are favourable, and their release onto the local market when prices rise, to ensure stability,” he stated.
