Ghanaians To Smile As Govt Announces Significant Reduction Of Fuel Prices From January 1st


LAGOS DECEMBER 30TH (NEWSRANGERS)-Prices of petroleum products will go down significantly beginning this Sunday, January 1, 2023, the Institute for Energy Security (IES) has predicted.

This follows an improvement in the value of the Ghana cedi to the dollar during the last two weeks and a slight reduction in the price of crude oil on the world market.

The prediction is coming on the back of the 5.28% and 5.09% fall in the prices of petrol and Liquefied Petroleum Gas respectively and the 26.51% appreciation of the cedi against the US dollar in the second pricing window of December.

”Despite the marginal rise in the price of gasoil [diesel] on the international market, the Ghana cedi’s appreciation against the dollar will force prices down locally”, it said

“Prices are, therefore, set to reach ¢9.50 and ¢11.60 per litre for gasoline [petrol] and gasoil [diesel] respectively, and ¢9 per kilogram for LPG in the coming days,” the Institute stated.

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Posted by on Dec 30 2022. Filed under Business, National. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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