Fuel prices will fall between 2% and 9% for the third time in a row beginning April 1, 2023, with Liquefied Petroleum Gas (LPG) seeing the biggest drop in recent times.
According to the Institute for Energy Security, LPG will drop by roughly 9%, while petrol and diesel would drop by 2% to 5%.
The institution attributes the decline to the cedi’s stability against the dollar and the global market’s softening of finished product pricing.
“Fuel consumers must expect another round of fuel price drops in the coming days. The imminent price drop is a reflection of happenings on the world fuel market over the past two weeks which shows decline in prices of gasoline [petrol], Liquefied Petroleum Gas and some other finished products”, Nana Amoasi VII, Executive Director of the Institute for Energy Security told Joy Business.
“In the last 14 days, the price of gasoline [petrol] on the world market posted a drop of $21 per metric tonne. Gasoil [diesel] also dropped by roughly 3.6% from the previous price of $813 per metric tonne”, he added.
Nana Amoasi VII went on to say that LPG has seen the highest price decline in the recent two weeks on the global market. The commodity’s price dropped by $95 per metric tonne, or around 15%.
He stated that Ghanaians could expect some relief from the recent high fuel costs, stating that “households that rely on LPG would be the greatest benefactors as the commodity may report a hefty decline in prices in the coming days.”
SOURCE: myjoyonline
