Fuel prices to fall by second pricing window in Feb – IES

The Institute of Energy Security (IES) has projected a reduction in the prices of fuel.

The IES projection indicates the prices of fuel will drop for the second pricing window in February. 

“Following a global market drop in the price of Gasoline and Gasoil, by some -1.6 % and -12.80% respectively, an increase in the price of LPG by 9.13%, on the foreign market, and a marginal appreciation of the Ghana cedi against the US dollar, the domestic fuel market is expected to see significant price changes in the pumps,” the IES said in a statement. 

The IES therefore estimates a “drop in the prices of Gasoline and Gas oil.”

However, LPG consumers may “have to contend with a price increase for the commodity over the next two weeks ending February 28, 2023.”

It is therefore projecting “Gasoline to sell at about GHS14. 40 and Gas oil to sell for about GHS13.90 in the coming days.”

While, “a price of a kilogramme of LPG may hing up to sell at GHS14. 70, before close of the second pricing window for February 2023.”