Petrol prices could jump nearly 10% from Sept 16 – COPEC

Petrol, diesel, and Liquefied Petroleum Gas (LPG) prices are set to rise from September 16, according to the Chamber of Petroleum Consumers (COPEC). COPEC's forecast predicts petrol prices could climb between 7.75% and 9.63%, while diesel could increase by 4.26% to 6.97%. LPG is expected to see a smaller rise of 0.85% to 3.22%. These projected increases are primarily due to a rise in global crude oil and refined petroleum product prices.

However, the government and industry intervention may partially offset the impact on diesel prices, which will help shield consumers from the full extent of the anticipated increase. The projection comes before the second-half September pricing window, leaving motorists and other petroleum product consumers facing higher pump prices if the forecasted adjustments occur.

The latest forecast could intensify pressure on transport and business operating costs, as fuel prices directly impact the cost of moving people and goods.