According to the Institute of Energy Security (IES), gasoline and diesel will sell for GHS 9.50 and GHS 11.60, respectively, in the upcoming days.
This is the result of the prices of gasoline and LPG falling by 5.28 percent and 5.09 percent, respectively, and the cedi appreciating by 26.5 percent versus the US dollar in the second pricing window of December 2022.
The local Oil Marketing Companies (OMCs) are therefore expected to dramatically lower their prices in the first week of 2023, with some selling at single digits, according to a prediction made by the Institute for Energy Security (IES).
The Ghana Cedi’s strengthening against the dollar will drive costs down locally, according to a statement released by the IES on Thursday, December 29. “Despite the little increase in the price of Gasoil on the international market,” the statement read.
According to the announcement, prices will soon approach GHC9.50 and GHC11.60 per litre for gasoline and oil, respectively, and GHC9 per kilogram for LPG.