Petrol, diesel and Liquefied Petroleum Gas (LPG) prices are projected to increase from today, according to the Chamber of Oil Marketing Companies (COMAC).
The report indicates that petrol, diesel and Liquefied Petroleum Gas (LPG) prices are projected to increase from today, according to the Chamber of Oil Marketing Companies (COMAC).
It further notes that cOMAC’s latest ex-pump price projection indicates that petrol prices could rise by between 7.75% and 9.63%.
Diesel prices are also expected to increase by 4.26% to 6.97%, while LPG could see a more modest increase of 0.85% to 3.22%.
The projected increases have been attributed mainly to rising global prices of crude oil and refined petroleum products.
However, COMAC says the impact on diesel prices will be partly moderated by the government–industry intervention, which will continue to cushion consumers against the full extent of the expected increase.
The projection comes ahead of the second-half September pricing window, with motorists and other petroleum product consumers expected to face higher prices at the pumps if the projected adjustments materialise.
The latest forecast could put renewed pressure on transport and business operating costs, particularly as fuel prices directly affect the cost of moving people and goods.
