The Institute for Energy Security (IES) has predicted a significant fall in petroleum products beginning this Friday, December 16, 2022.
The price reductions seen over the first half of December 2022 pegged the national average price per litre of petrol at ¢15.16 from ¢16.31, representing a 7.05% reduction over the period.
The national average price of diesel per litre moved from ¢19.86 to ¢18.78 falling by roughly 5.44%.
In a statement, the IES has revealed that the expected price drops would be significant due to the 6.60% appreciation of the cedi against the US dollar.
It added that the new prices will fall to about ¢13 and ¢16 per litre for petrol and diesel, whilst Liquefied Petroleum Gas will go for about ¢12 per kilogram.
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Read full statement below:
Prices of petroleum products are expected to fall significantly beginning this Friday, December 16, 2022, the Institute for Energy Security (IES) has projected.
According to IES, the expected price drops would be significant due to the 6.60% appreciation of the cedi against the US dollar.
It said the new prices will fall to about ¢13 and ¢16 per litre for petrol and diesel, whilst Liquefied Petroleum Gas will go for about ¢12 per kilogram.
Even before that, some Oil Marketing Companies (OMCs) have begun reducing prices of petroleum products at the pumps.
Ghana | Atinkaonline.com | Vivian Adu