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Petrol, diesel prices will not change; LPG to see 5% reduction – IES

  • SOURCE: Reporting Oil and Gas | qwesa2big
    • POSTED ON: May 31, 2023

    Prices of petrol and diesel are expected to remain the same
    in the first half of June 2023.

    The price of Liquefied Petroleum Gas (LPG) however is
    expected to decline by roughly 5% in the same period

    The Institute for Energy Security attributed this to the
    strong performance of the Ghana cedi on the domestic forex market during the
    last two weeks, and the drop in the price of LPG on the international market.

    “The Institute for Energy Security’s (IES’) review of
    prices over the past two weeks as monitored by Global Standard & Poor
    (S&P) Platts platform indicate the prices petrol and diesel have increased
    at 4.20% and 2.70% respectively whereas Liquefied Petroleum Gas (LPG) decreased
    by 5.80%”.

    “The Ghana cedi also gained 5.42% against the U.S dollar
    over the two weeks trading period on domestic forex market”, it added.

    The IES also noted that the ex-pump prices of petrol and
    diesel fell at an average of 3% in the second pricing window for May 2023. The
    IES also found that the national average price per litre for petrol and diesel
    is currently GH¢11.90 and LPG at about ¢13 per kilogramme.

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