The price of petrol is expected to go down by 4 percent per liter at the various pumps in the first pricing window of July.
Prices of fuels at the pump have increased consistently in previous windows, however a recent analysis issued by the Institute for Energy Security (IES) indicates that the reduction is a result of 3.20 percent fall in the price of Gasoline, a 15.71 percent fall in the price of LPG, and a 2.05 percent appreciation of the cedi against the US Dollar.
The price of petrol is projected to reduce by roughly 4 percent, to sell below GH¢10.50 per litre while the price of Liquified Petroleum Gas (LPG) is projected to fall further by approximately 4 percent from its current price.
However, the 1.9 percent rise in the price of Gasoil on the international fuel market may either cause a stability in the current price of Gasoil, or a marginal jump in price at the pumps of the various OMCs.
Fuel prices for a while now have been increasing consistently on the local market due to developments on the international market.
Currently, the national average price of fuel per litre at the pumps is pegged at GH¢11 and GH¢14 for Gasoline and Gasoil respectively.
Bainamultimedia
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