Fuel Prices Set to Rise Significantly in Coming Weeks Due to Global Trends and Cedi Struggles

COPEC predicts significant rise in fuel prices in coming weeks due to international market trends and cedi performance
Reversal of petroleum levy contributing to price hike, though it would have been more without it
Fuel consumers bracing for higher prices after reversal of suspension of Price Stabilization and Recovery Levy
Additional charges of 16 pesewas per liter for petrol, 14 pesewas for diesel and LPG approved on April 3
Price increase the largest since February 2023; only way to alleviate burden is to reduce taxes, but government's hands are tied due to IMF negotiations