The Institute of Energy Security (IES) has projected an expected fall in the prices of fuel.
The marginal drop in the prices of petrol, diesel and Liquefied Petroleum Gas (LPG) announced by the Institute will reflect at the pumps.
In a statement, the IES attributed the fall to prices on the world market and the relative stability of the cedi.
From Tuesday, diesel, petrol and will be sold for GHS 12.30 and GHS 12.15 per litre respectively. A litre of LPG will go for GHS 12.12.
“The Institute for Energy Security (IES) monitoring of prices over the past two weeks on the Global Standard & Poor (S&P) Platts platform indicate the prices of gasoline [petrol], gasoil [diesel], and Liquefied Petroleum Gas (LPG) decreased by 8.40%, 9.98%, and 13.43% respectively. The Ghana cedi also gained 0.17% against the US greenback currency”, the statement said.
Already, the Chamber of Petroleum Consumers Ghana (COPEC) has also predicted a decline in the prices of fuel in the second pricing window of May 2023.
COPEC’s projections indicate that the decline is a result of the decrease in the price of crude on the international market and stable to slightly declining forex rates.
Petrol is expected to be sold at GH¢11.67 per litre from the current GH¢12.00 according to COPEC.