Petrol prices to go up Febuary – Analyst
Barring any intervention by government, prices of Petroleum products
will go up in February, a research analyst with the Institute of Energy
Security Richmond Rockson has predicted.
The caution comes after the Chamber of Petroleum Consumers (COPEC)
warned of rising prices at the pumps at the beginning of the year.
Prices of petroleum products have cumulatively risen to about 6% since
the beginning of the year.
Speaking to Francis Abban on the Morning Starr Tuesday, Mr. Rockson
said the price of crude oil is going high on the international market.
“Crude oil prices increasing on the international market causes an
increase in prices of finished products. The indicators shows that fuel
prices will increase again in the first pricing window in February
unless of course Government intervene. If the Special Petroleum tax and
the TOR debt recovery levy are removed, the prices of fuel will decrease
by about 60 pesewas and that will bring a little comfort to consumers.
Crude oil prices have been increasing steadily in recent times and that
is why we see the increase in prices of fuel”.
Reacting to the comment, a communications specialist at the Energy
ministry said the government is studying the pricing of oil on the
international market and will respond appropriately.
“The first pricing remained stable but it is in this second pricing
window that we see some increase in the prices of fuel. We are still
studying the system”.
Source: Starrfmonline.com
No comments
Your comments and Encouragement are welcome