The Institute of Energy Security (IES) is projecting a further drop in the prices of petroleum products in the country from Friday, December 16, 2022.
The IES says it is expecting fuel prices to go down due to the continuous appreciation of the Ghanaian cedi against the United State dollar in recent times as well as the price fall recorded at the international market over the first pricing window.
With this reduction in sight, the IES expects a litre of petrol and diesel to drop to GH₵13 and GH₵16 cedis, respectively, while the price of Liquefied Petroleum Gas drops to GH₵12 per kilogram
"With the continued price falls recorded on the international market, consumers are set to see further price relief at the pumps.
“The Institute for Energy Security (IES) predicts that on the back of 9.02%, 8.08% and 7.38% fall in prices of Gasoline (petrol), Gasoil (Diesel) and LPG respectively, the domestic OMCs outlets are set to reduce their prices further, the IES said.
Meanwhile, the Ghana Private Road Transport Union (GPRTU) has said that it will only reduce transport fares if the price of petroleum products drop to GH₵10 cedis per litre.
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