IES: Fuel prices to ease marginally

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: Classfmonline.com
Trending Business
Mahama: Ghana’s economy experiencing price stability, inflation at four-year low
02:17Simon Madjie rallies envoys to drive investments
02:11Ghana secures $1.5bn oil and gas investment deal at Africa Oil Week
08:58Bank of Ghana hosts BADEA President as Ghana signs 24-Hour Economy MoU
01:37TDC warns against unlawful occupation of public lands in Tema acquisition area
00:52Ghana secures $3.5bn investment to boost upstream petroleum sector — Energy Minister
00:30Gov't targets 60% boost in coconut export earnings
09:48Mahama calls for “just energy transition” at APPO NOCs CEOs forum
09:25Ghana Free Zones Authority strengthens ties with Hungarian Embassy to boost investment
08:59Roots of prosperity: President Mahama’s 3 million coconut seedlings initiative unleashes hope, jobs and export potential
06:51