Prices for fuel are predicted to decrease slightly starting on May 16, 2024.

Source: newsthemegh.com/Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

Fuel prices are expected to fall marginally from May 16, 2024, the Institute for Energy Security has predicted.

This is due to the reduction of prices of refined petroleum products on the international market which is wider than the cedi depreciation.

“Following the changes recorded on the international market for refined petroleum product, Gasoline [petrol], Gasoil [diesel] and Liquified Petroleum Gas (LPG) recorded a fall of about 5.68%, 4.51% and 4.72% respectively”.

“In the second pricing-window for May 2024, ex-pump is expected to fall given the reductions recorded for refined petroleum products on the international market, which is wider than Ghana cedi depreciation”, it mentioned.