The Foundation of Energy Security (IES) predicts that petroleum and diesel prices will soon reach GHC9.50 and GHC11.60, respectively.
This follows a 5.28% and 5.09% decrease in the costs of fuel and LPG, respectively, as well as a 26.51% enthusiasm for the cedi against the US dollar in the second valuing window of December 2022.
Thus, the Foundation for Energy Security (IES) anticipates that domestic Oil Promoting Organizations (OMCs) will significantly cut their costs in the first seven days of 2023, with some selling at single digits.
The IES issued the following proclamation on Thursday (December 29):
“Despite the minor increase in the price of gasoil on the global market, the Ghana Cedi’s strengthening versus the dollar will force expenses down locally.” “Costs are expected to reach GHC9.50 and GHC11.60 per liter for Gas and Gasoil, respectively, and GHC9 per kilogram for LPG soon long,” the statement said.