The Chamber of Petroleum Consumers Ghana (COPEC-GH) has indicated that fuel prices across the country have gone up by 9 percent.

READ ALSO: Fuel prices expected to go up 2 to 4%

According to COPECGH pump prices as of “this morning [January 4, 2017] have gone up by over 9% from some of the major oil marketing companies though the majority are yet to do any adjustments.”

“It is worrying what sort of factors or figures influence such astronomical jumps and increases at a time when all variables indicate around 4% will be sustainable,” the statement signed by Executive Secretary Duncan Amoah said.

The Chamber further accused Shell and Total of unreasonable price hikes and charged them to sell fuel based on prices that will be of interest to Ghanaians.

The statement urged the “incoming government to ensure the central role so far played by Ghana Oil Company (GOIL) in Ghana's deregulation environment is not in any way weakened or compromised as some OMCs have persistently demonstrated they will not hesitate in ripping the people off phenomenally if left to dictate the pace of pricing for Ghanaians”.

The Chamber, however, believes a stable currency will help address the issue of high fuel prices.

It has, therefore, called on the Central Bank to institute measures to stop the depreciation of the cedi.