Good news to drivers as fuel prices to go down from December 16
Prices will start to reflect from Friday, December 16, 2022, according to the IES.
Beginning on Friday, December 16, 2022, the cost of petroleum goods will drop significantly, according to IES projections.
According to the IES, the anticipated decline comes after the recent continual strengthening of the cedi versus the US dollar and the ongoing price declines seen on the global market throughout the first pricing window.
The current rate of the cedi’s growth relative to the US dollar is 6.60 percent.
As a result, new costs are anticipated to be around GH13 and GH16 per litre for gasoline and diesel, respectively, and GH12 per kilogram for liquefied petroleum gas.
“Consumers should expect greater price relief at the pumps given the ongoing price declines observed on the global market. The Institute for Energy Security (IES) forecasts that domestic OMCs outlets will lower their prices even more as a result of the respective 9.02%, 8.08%, and 7.38% drops in the price of gasoline (petrol), gasoil (diesel), and LPG.
The price of gasoline decreased by 9.02 percent over the review period, from US$838.78 per metric tonnes to US$763.10 per metric tonnes, according to the Standard & Poor’s (S&P’s) Platt averages observed throughout the most recent pricing window.
From US$969.70 per metric tonne to US$891.30 per metric tonne, the price of diesel decreased by an additional 8.08 percent. The price of LPG decreased in the same manner, dropping from US$618.20 per metric ton to US$572.58 per metric ton, a 7.38 percent decrease.
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