Fuel prices are anticipated to experience a slight decrease starting May 16, 2024, as projected by the Institute for Energy Security. This adjustment is attributed to the reduction in prices of refined petroleum products on the international market, surpassing the impact of cedi depreciation.
According to the Institute, Gasoline
(petrol), Gasoil (diesel), and Liquified Petroleum Gas (LPG) have all witnessed
declines of approximately 5.68%, 4.51%, and 4.72% respectively, on the
international market.
The Global Standard & Poor (S&P)
Platts monitoring of petroleum products performance globally indicates a
significant downturn in prices for petrol, diesel, and LPG, with petrol
experiencing a 5.68% decrease, diesel 4.51%, and LPG 4.72%.
Analysing local fuel market performance, the
first pricing window of May 2024 saw marginal increases in the prices of
certain petroleum products.
Based on IES calculations, petrol and diesel
were retailed at GH¢14.22 and GH¢14.00 per litre, respectively, while LPG was
priced at GH¢15.05 per kilogramme.
Source:Classfm