Fuel prices expected to decline between 2% and 9% for the third continuous time from April 1, 2023 with Liquefied Petroleum Gas (LPG) expected to witness its biggest decline latterly.
Pursuant to the Institute for Energy Security, LPG will decline by about 9%, whilst petrol and diesel will go down between 2% and 5%.
The institute is ascribing the drop to the stability of the cedi to the dollar and the easing of prices of finished products on the world market.
“Fuel consumers must expect another round of fuel price drops in the coming days. The impending price drop is a reflection of happenings on the fuel market over the past two weeks which shows decline in prices of gasoline [petrol], Liquefied Petroleum Gas and some other finished products”.
“last two weeks, the price of gasoline [petrol] on the world market placed a drop of $21 per metric tonne.Diesel also dropped by roughly 3.6% from the previous price of $813 per metric tonne”. The commodity’s price fell by a whopping $95 per metric tonne, about 15% drop.
Ghanaians should expect some ease from the high fuel prices noted in the past six months, “households that depend on LPG will be the most beneficiaries as the basic products may post a sturdy decline in prices in the next few days”.
