Fuel prices to drop between 7.1% and 10.8% February 16
Gas and diesel prices are anticipated to drop by a considerable 7.1% to 10.8% at the pump beginning Thursday, February 16, 2022,.
However, during the following two weeks, the price of liquefied petroleum gas (LPG) will increase.
Read – Gold for oil policy: Fuel prices may drop this week
The Institute for Energy Security (IES) predicts that in the following days, petrol will cost around ¢14.40 per liter and diesel would cost around ¢13.90.
But before the second pricing window for February 2023 closes, the cost of a kilogram of LPG may swing up to sell at ¢14.70.
The slight strengthening of the cedi against the dollar and the anticipated decline in gasoline and diesel costs are also factors.
“Following a global market drop in the price of Gasoline [petrol] and Gasoil [diesel] by some -1.60% 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 at the pumps.”
source – originalonline.com