According to the Institute for Energy Security (IES), fuel prices will decrease by 2% to 9% starting on Saturday, April 1, 2023.
The IES also noted that the price of liquefied petroleum gas (LPG) is anticipated to drop dramatically, by about 9% in recent years.
If everything is equal, the price of gasoline and diesel will decrease by 2% to 5%.
The Institute claims that the decrease is due to both the stable value of the US dollar relative to the Ghana cedi and the falling costs of finished goods on the global market.
“Fuel consumers must expect another round of fuel price drop 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 News.
“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.
In his conclusion, he noted that Ghanaians should anticipate some relief from the high fuel prices seen over the previous six months “households that rely on LPG will be the most beneficiaries as the commodity may post a hefty drop in prices in the coming days”.
