Costs of oil based commodities to increase by 5.5% - COPEC

Costs of oil based commodities at the siphons are probably going to increase by 5.5% notwithstanding decrease on the world market, the Chamber of Petroleum Consumers (COPEC) has expressed.
Fuel costs on the global market have seen a few minimal decreases over the course of the last fourteen day time frame, however the sharp deterioration of the cedi on the nearby market will forestall a decrease on the neighborhood market.
"Between the ongoing first estimating window and the following fuel evaluating window of the month August, which initiates from tomorrow, 16 August 2022, unrefined petroleum cost has seen a drop by 4.53% from $110.52 moderately to $105.51 per barrel, while that of completed items ( petroleum and diesel ) have declined by a normal of 7.5%.
"The forex market has sadly nonetheless, been really violent over the period with the cedi deteriorating steeply to close exchanging at about ¢9.8313 per dollar," it made sense of.
COPEC added that since there won't be any new assessment discount, the extended typical costs of petroleum and diesel would almost certainly move from ¢10.959/liter to ¢11.55/liter with diesel moving from ¢13.3/liter to ¢13.965/liter.
This will show around 5.5% cost increment across board over the ongoing cost window.
For LPG, it is normal to increase by 10.306% to sell at about ¢9.58 per kilogram.