The Chief Executive Officer of the Chamber of Oil Marketing Companies (OMCs), Dr.
Riverson Oppong, has cautioned consumers to brace for a sharp increase in fuel prices in the upcoming pricing window, despite a marginal reduction this week.
Speaking on Channel One TV's Face to Face program on Tuesday, June 17, Dr.
Oppong explained that recent slight reductions in pump prices were the result of a temporary government directive, rather than improvements in market fundamentals. "You're currently benefitting from a reduction this week, but I can't promise for next week," he said, warning that international price trends and exchange rate pressures are setting the stage for a major hike.
