Fuel Prices To Go Down [Details]

Fuel Prices To Go Down [Details]

The prices of fuel are targeted to fall between 2% and 9% effective April 1, 2023. This becomes the third consecutive time Liquefied Petroleum Gas (LPG) have fallen.

LPG are targeted to reduce by about 9%.  Petrol and diesel are also to fall between 2% and 5%. This price fall was made known by the Institute for Energy Security.

According to the institute, appreciation of the Ghana Cedi against the US Dollar as well as finished products price-ease on world market over the past 14 days will contribute tremendously to the new prices.

Executive Director of the Institute for Energy Security, Nana Amoasi VII, told Joy Business: “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, Liquefied Petroleum Gas and some other finished products”.

He added: “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”.

In conclusion, Nana Amoasi VII assured Ghanaians to expect some alleviations from the high fuel prices in the coming days.